Interarch IPO Debuts at 44% Premium

26 Aug 2024 , 09:49 AM

Interarch Building Products’ shares debuted at a 44% premium, listing at ₹1,299 on the NSE, 44.33% above the issue price of ₹900, and at ₹1,291.20 on the BSE, reflecting a 43.47% premium. The IPO saw overwhelming demand, with a subscription rate of 93.53 times on the final bidding day. Investors purchased 43.88 crore equity shares against the offer size of 46.91 lakh shares.

Interarch Building Products specializes in the design, manufacturing, and sale of pre-engineered buildings (PEBs). The company offers two main services: turnkey PEB contracts, managing everything from design to on-site installation, and PEB product sales, including metal ceilings, corrugated roofing, steel structures, and light gauge framing systems.

Through the IPO, the company aims to raise ₹200 crore via a fresh issue and ₹400.29 crore through an offer-for-sale (OFS) at the upper end of the price band, set between ₹850-900 per share.