Interarch Building Products IPO Day 2: Issue subscribed over 4 times so far, NIIs lead; check details

Interarch Building Products IPO has received a decent response from investors. On Tuesday, the second day of bidding, the issue was subscribed 4.47 times so far.

According to consolidated data on the NSE, the Interarch Building Products IPO received bids for 2.09 crore shares compared to the 46.91 lakh shares on offer.

Retail investors subscribed to their portion 3.72 times, bidding for 88.32 lakh shares against 23.71 lakh shares set aside for the category. The NIIs applied for 1.16 crore shares, which was 11.42 times the 10.16 lakh shares reserved for the category.

On the other hand, the qualified institutional buyers (QIBs) applied for only 3.45 lakh shares compared to more than 12.76 lakh shares set aside for them. The QIBs’ portion was booked only 27%.

Interarch Building Products IPO offer size, price band and lot size

Interarch Building Products IPO is a book-built issue worth ₹600.29 crore, comprising 66.47 lakh shares. The IPO offer size includes an anchor allocation of 19.94 lakh equity shares. The mainboard issue comprises a fresh issue of 22 lakh shares worth ₹200 crore and an offer for sale (OFS) of over 44 lakh shares amounting to ₹400.29 crore.

The IPO price band has been fixed at ₹850 to ₹900 per equity share. The minimum application size is a single lot of 16 shares, amounting to ₹14,400.

Interarch Building Products IPO Dates

The Interarch Building Products IPO is open for subscription until August 21. The IPO allotment status is expected to be finalised on August 22. Refunds will be initiated for unsuccessful bidders on August 23, and shares will be credited into the Demat accounts of successful bidders the same day. The Interarch Building Products IPO shares are expected to be listed on the NSE and BSE on August 26.

Interarch Building Products IPO registrar

Link Intime India Private Limited is the registrar of the Interarch Building Products IPO. Abit Private Limited and Axis Capital Limited are the book-running lead managers of the IPO, while ICICI Bank Ltd and HDFC Bank Limited are the sponsor banks.

Interarch Building Products IPO objectives

The net proceeds of the Interarch Building Products IPO will finance the capital expenditures for setting up a new PEB manufacturing unit, upgrading the Kichha Manufacturing Facility, and investing in information technology assets for upgradation. The proceeds will also be used for incremental working capital requirements and general corporate purposes.

About Interarch Building Products Limited

Interarch Building Products was first established as Luxalon Building Products Private Limited in 1983. The company is a turnkey pre-engineered steel construction solution provider in India. It has integrated facilities for design and engineering, manufacturing, and on-site project management capabilities for the installation and erection of pre-engineered steel buildings. As per its website, Interarch works closely with its partners in project development and construction, supporting critical industrial, commercial, and infrastructure projects.