Interarch Building Products IPO: Major Stock Market Listing Gains Traction

Sunday, 25 August 2024, 21:35

Interarch Building Products IPO debuted strongly on the stock market with a listing at Rs 1,299, reflecting a premium of 44.3% over its IPO price. The massive interest led to an overwhelming subscription rate of 93.53 times at the final bidding day, underscoring the company’s appeal in the financial markets.
Moneycontrol
Interarch Building Products IPO: Major Stock Market Listing Gains Traction

Interarch Building Products IPO: A Strong Start in the Stock Market

Interarch Building Products launched its IPO and marked a remarkable stock market debut on August 26 at a listing price of Rs 1,299, a substantial premium of 44.3% over the issue price of Rs 900. The listing exceeded grey market estimates, where shares were initially projected to trade at a 35.5% premium. The grey market provides a preliminary trading ecosystem that begins before actual subscription.

Subscription Surge for Interarch's IPO

The IPO attracted massive attention, achieving a staggering subscription rate of 93.53 times by the end of bidding. Investors across a spectrum seized 43.88 crore equity shares, significantly outpacing the offer's total size of 46.91 lakh shares.

  • Qualified institutional investors subscribed 205.41 times their allocation.
  • High-net-worth individuals purchased 128.42 times their quota.
  • Retail investors subscribed to 19.11 times their reserved portion.

Employee Participation and Future Goals

Employees also displayed keen interest, bidding 24.19 times their quota. Interarch allocated Rs 2 crore worth of shares to them at a discounted price of Rs 85 below the final issue price. The company specializes in pre-engineered buildings (PEBs), offering services ranging from turnkey contracts, involving full design and installation, to the sale of PEB products like metal ceilings and light gauge framing systems.

Interarch plans to raise Rs 200 crore through a fresh issue accompanied by Rs 400.29 crore from an offer-for-sale (OFS) within the price range of Rs 850-900.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


Related posts


Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe