ARC Insulation IPO fully subscribed on opening day: Check price band, lot size, objectives and key dates

ARC Insulation IPO: Fibre-reinforced plastic (FRP) composite products manufacturer ARC Insulation & Insulators Ltd's initial public offering has been fully subscribed on the opening day of bidding on Thursday, August 21. The issue will conclude on August 25. The price band has been set at ₹119 to ₹125 per share.

The issue has secured bids for 30,10,000 shares compared to 23,58,000 shares on offer, translating to 1.28 times subscription, as per the NSE data until 12:56 pm.

The initial share sale aims to raise ₹41.19 crore through a fresh issuance of shares aggregating to ₹38.06 crore as well as an offer for sale (OFS) of ₹3.13 crore by promoter Manish Bajoria.

The fresh issue proceeds are intended for

• Capital expenditure towards setting up a new manufacturing unit
• Purchase of new office space
• Debt repayment
• Working capital needs
• General corporate purposes

Manish Bajoria, Managing Director of ARC, said, "This IPO represents more than just a financial milestone; it is an opportunity to scale our innovation-driven growth. With our expertise in FRP composites and a strong foundation built on sustainability, we are confident in deepening our presence in both Indian and global infrastructure markets."

ARC Insulation IPO lot size

A lot consists of 1,000 shares. Individual investors can apply for at least two lots or 2,000 shares.

ARC Insulation IPO timeline: Allotment and listing dates

Gratex Corporate Services is the IPO's book-running lead manager, while Maashitla Securities is the registrar.

ARC Insulation & Insulators specialises in the manufacturing and supply of glass fibre reinforced polymer products, concentrating on corrosion-resistant solutions for construction.

ARC Insulation IPO latest GMP

According to media reports and investorgain.com, ARC Insulation's unlisted shares are trading at ₹146 per share, reflecting a grey market premium of 16.80% over the upper price band of ₹125.