Interarch Building Products IPO Achieves Impressive Market Listing
Interarch Building Products IPO: A Strong Market Debut
Shares of Interarch Building Products saw a robust stock market debut on August 26 after listing at Rs 1,299 apiece, a premium of 44.3 percent over the issue price of Rs 900.
The listing gains topped grey market estimates where shares were trading at a premium of 35.5 percent.
Investor Interest and Subscription Rates
Interarch Building Products' IPO garnered overwhelming interest, with a subscription rate of 93.53 times on the final day of bidding.
- Investors from all categories snapped up 43.88 crore equity shares, significantly surpassing the offer size of 46.91 lakh shares.
- Qualified institutional investors subscribed 205.41 times the portion allocated for them.
- High-net-worth individuals purchased 128.42 times their allotted quota.
- Retail investors subscribed 19.11 times their reserved portion.
- Employees demonstrated strong interest, bidding 24.19 times their quota.
Company Overview and Future Plans
The company specializes in pre-engineered buildings (PEBs) and provides two primary services:
- Turnkey PEB contracts: managing everything from design to on-site installation.
- Sale of PEB products: such as metal ceilings, corrugated roofing, steel structures, and light gauge framing systems.
Interarch aims to raise Rs 200 crore through a fresh issue and an additional Rs 400.29 crore via an offer-for-sale (OFS), with shares priced between Rs 850-900.
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