Interarch Building Products IPO opens for subscription: Check price band, lot size and other key details

2 min read | Updated on August 19, 2024, 10:04 IST

SUMMARY

Interarch Building Products IPO is a mix of fresh issuance of shares aggregating to ₹200 crore and an offer-for-sale component of up to 44.47 lakh equity shares worth ₹400 crore by promoters and existing shareholders.

Interarch Building Products Limited is a leading provider of pre-engineered steel construction solutions in India.

Construction solutions provider Interarch Building Products' initial public offering (IPO) opened for subscription on Monday, August 19. The issue, which has set a price band of ₹850-₹900 per share, will conclude on August 21.

The ₹600 crore IPO is a mix of fresh issuance of shares aggregating to ₹200 crore and an offer-for-sale component of up to 44.47 lakh equity shares worth ₹400 crore by promoters and existing shareholders.

Proceeds generated from the issue will be utilised for capital expenditure, system upgrades, and general corporate purposes.

On Saturday, Interarch Building Products had raised ₹179.49 crore in the anchor round from investors such as Chartered Finance & Leasing Ltd, Bajaj Allianz Insurance Company, Bengal Finance and Investment, ICICI Prudential Mutual Fund (MF), Carnelian Capital Compounder Fund, Aryabhata MF, Eastspring Investment India and SBI General Insurance.

To know more and apply for the IPO, CLICK HERE.

The company has reserved 50% of the issue for qualified institutional buyers (QIBs), 35% for retail individual investors and 15% for non-institutional investors (NIIs).

Investors can bid for at least one lot or 16 shares and in multiples after that.

Axis Capital Ltd and Ambit Pvt Ltd are the book-running lead managers to the issue.

Also Read: IPOs next week: 4 public offers open for subscription, 5 listings scheduled; check list

Interarch Building Products IPO: Timeline

Bidding dates: August 19 to August 21
Allotment finalisation: August 22
Refund initiation: August 23
Demat transfer: August 23
Listing: August 26

About Interarch Building Products

Interarch Building Products is among the leading turnkey pre-engineered steel construction solution providers in the country. Its integrated facilities include design and engineering, manufacturing, and on-site project management capabilities for the installation and erection of pre-engineered steel buildings.

The company has an order book of over ₹1,153 crore as of March 31, 2024.

The firm reported revenue from operations of ₹1,293.3 crore in the fiscal year 2024, compared to ₹1,123.93 crore in the year-ago period, and the net profit grew to ₹86.26 crore from ₹81.46 crore.

To know more about IPO listings, schedule and upcoming IPOs, click here.

About The Author

Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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Interarch Building Products IPO opens for subscription: Check price band, lot size and other key details

Interarch Building Products IPO: Timeline

About Interarch Building Products

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