Interarch Building Products IPO Closes Today

21 Aug 2024 , 02:10 PM

The Interarch Building Products IPO opened for public subscription on August 19 and will close today on August 21. The allotment of shares is expected to be finalized on August 22, with the listing date set for August 26 on both BSE and NSE.

The IPO price band is set between ₹850 and ₹900 per share. Retail investors need to invest a minimum amount of ₹14,400, which corresponds to 16 shares.

Interarch Building Products aims to raise ₹600.29 Crore through the IPO, comprising a fresh issue of 22.22 lakh equity shares worth ₹200 Crore and an Offer For Sale (OFS) of 44.47 lakh shares totaling ₹400.29 Crore.

Ambit Private Limited and Axis Capital are the book-running lead managers, while Link Intime India Private Ltd serves as the IPO registrar.

As of August 21 at the time of writing at 1:00 pm, the IPO has been subscribed 25.98 times according to NSE data.

The subscription breakdown includes:

• 13.25 times in the retail category
• 5.96 times in the Qualified Institutional Buyers (QIB) category
• 81.05 times in the Non-Institutional Investors (NII) category

Interarch Building Products is a leading provider of turnkey pre-engineered steel construction solutions in India, offering integrated services including design, engineering, manufacturing, and on-site project management.

The company’s pre-engineered buildings (PEBs) are custom-designed and fabricated for various applications, including industrial, infrastructure, and building sectors. Their projects include multi-level warehouses, paint production lines, FMCG manufacturing units, indoor stadiums, and facilities for the cement industry.