Interarch Building Products IPO, aimed at raising ₹600.29 crore, comprises a fresh issue of 0.22 crore shares aggregating to ₹200 crore and an offer for sale of 0.44 crore shares aggregating to ₹400.29 crore. The Interarch IPO price band is set at ₹850 to ₹900 per share, with a minimum lot size of 16 shares, requiring a minimum investment of ₹14,400 by retail investors.
Interarch IPO Subscription
As of 11:09 am on August 20, the IPO has seen a subscription status of 4.97 times. The retail investor portion was oversubscribed by 4.13 times, the non-institutional investors (NII) portion saw an oversubscription of 12.77 times, while the Qualified Institutional Buyers (QIBs) portion was subscribed 0.27 times.
Interarch IPO GMP
The Interarch IPO GMP is currently reported at ₹335. With the upper price band of the IPO at ₹900, the stock is expected to list at ₹1235, indicating around a 37% premium on listing. However, it’s important to note that while GMPs can provide some insight into market sentiment towards an IPO, they should not be considered as the sole factor for predicting the stock’s performance upon listing.
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Interarch IPO Details
The IPO opened for subscription on August 19, 2024, and will close on August 21, 2024. The shares of the company are tentatively scheduled to be listed on both the BSE and NSE, on Monday, August 26, 2024.
The company intends to use the net proceeds from the offering for various purposes including setting up a new pre-engineered steel building (PEB) manufacturing unit, upgrading existing manufacturing facilities, investing in IT assets, funding incremental working capital requirements, and addressing general corporate purposes.
Prior to the IPO launch, the company successfully secured ₹179.5 crores from anchor investors, including ICICI Prudential Mutual Fund, Whiteoak Capital, Mirae Asset, Pinebridge Global Funds, and Eastspring Investments India Infrastructure Equity Open.
About Interarch Building Products
Established in 1983, Interarch Building Products provides turnkey pre-engineered steel construction solutions in India. As of March 31, 2023, the company had the second-highest installed capacity of 141,000 metric tonnes per year and held a 6.1% market share in operating income among integrated PEB players in India.
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