Interarch Building Products IPO: Price band set at ₹850-900 per share; check details

Interarch Building Products, which will be launching its initial public offering (IPO) next week, has notified the price band for the issue. The shares could be booked in the range of ₹850-900 apiece.

The IPO would comprise a fresh issue of shares worth ₹200 crore, along with an offer-for-sale (OFS) of up to 44.48 lakh shares.

At the upper end of the IPO price band, the OFS could fetch the company around ₹400 crore. This takes the overall issue size to around ₹600 crore.

IPO dates

The Noida-based Interarch Building Products, which offers turnkey pre-engineered steel construction solutions, will launch the initial share sale on Monday, August 19. The subscription window will close on Wednesday, August 21.

The company is expected to mop up funds through anchor book round on August 16, three days before the opening of the IPO.

The book-running lead managers for the initial share sale will be Ambit Private Limited and Axis Capital Limited.

According to Interarch Building, the net proceeds from the fresh issue will be used towards addressing general corporate purposes related expenses, system upgrades, and for capital expenditures.

Interarch Building's financials

In the first half of FY24 or the six-month period ending September 30, 2023, Interarch Building had reported a net profit of ₹34.57 crore, and a revenue from operations of ₹591.53 crore. The order book was worth ₹1,036.27 crore as of the date.

For the full financial year ended March 31, 2023, the company had reported a 34.6% jump in revenue from operations at ₹1,123.93 crore, as against ₹834.94 crore in FY22. The net profit had grown nearly four-fold to ₹81.46 crore from ₹17.13 crore in the preceding fiscal year.