Interarch Building Products IPO booked 93 times on last day, check key details

Interarch Building Products' IPO closed with a bumper subscription on Wednesday, August 21. The initial public offer of Interarch Building Products Limited was booked 93.46 times on the third and last day of bidding.

The IPO received bids for over 43.84 crore shares compared to 46.91 lakh shares offered for subscription.

The IPO was booked 19 times in the retail category with applications for over 4.5 crore shares against 23.71 lakh shares set aside for the category. The Non-Institutional Investors (NIIs) category of the IPO was subscribed 128.35 times with bids for over 13 crore shares compared to 10.16 lakh shares set aside for the segment.

The Qualified Institutional Buyers (QIBs) applied for over 26.22 crore shares against 12.76 lakh shares set aside for the category, leading to a subscription of 205.41 times in the segment.

Employees of the company placed bids for more than 6.25 lakh shares against 26,143 shares reserved for the category, leading to a subscription of 23.93 times.

Interarch Building Products' IPO issue size

Interarch Building Products' IPO, a book-building issue worth ₹600.29 crore, consists of a combination of a fresh issue of 22 lakh shares, aggregating to ₹200 crore, and an offer-for-sale (OFS) component of 44 lakh shares aggregating to ₹400.29 crore.

The IPO price band was fixed at ₹850 to ₹900 per share. The minimum lot size for retail investors was of a single lot comprising 16 shares, amounting to an investment of ₹14,400.

Interarch Building Products' IPO share allotment status and listing date

Interarch Building Products' IPO was open for bidding from August 19 to August 21. The IPO’s share allotment status is expected to be finalised on Thursday, August 22. Refunds will be initiated for unsuccessful bidders on Friday, August 23 and shares of the company will be credited to the Demat accounts of successful bidders the same day.

Shares of the company will be listed on the BSE and NSE. The IPO listing date has been tentatively fixed as August 26.

Interarch Building Products' IPO: Objective

Interarch Building Products plans to use the proceeds of the public issue to set up a Pre-Engineered Building (PEB) manufacturing unit. The IPO proceeds will also be used for funding the upgrade of the company’s manufacturing facilities. Additionally, a portion of the fund will be used for upgrading the company's information technology infrastructure.

About Interarch Building Products

Interarch Building Limited was incorporated in 1983. The company is a provider of turnkey pre-engineered steel construction solutions in India. Interarch Building Products offers services such as design, engineering, manufacturing, and on-site project management for the installation and erection of pre-engineered steel buildings (PEB).