Interarch Building Products IPO: Allotment Finalised, Investors Aim August 26 Listing Amid Strong GMP Signals
The initial public offering (IPO) of Interarch Building Products Ltd was very popular among investors, leading to a heavy oversubscription. With the IPO allotment now complete, investors are eagerly waiting for the shares to be listed on August 26.
The Interarch Building Products IPO shares will be listed on both the BSE and NSE. Investors can check their allotment status on the BSE website or through the IPO registrar, Link Intime India Private Ltd.
Interarch Building Products IPO Grey Market Premium (GMP)
Interarch Building Products shares are currently trading at a good premium in the grey market. As of today, the IPO grey market premium (GMP) is ₹356 per share. This suggests that the shares are trading at ₹356 above the issue price, indicating potential gains of nearly 40%.
Based on the current GMP and the issue price of ₹900 per share, the estimated listing price for Interarch Building Products shares could be around ₹1,256 per share. For investors who applied for 1 lot of 16 shares, this translates to potential gains of ₹5,696 per lot.
However, it’s important to note that the grey market premium is only an indication and should not be the sole basis for investment decisions.
Interarch Building Products IPO Overview
The IPO for Interarch Building Products was open for bidding from August 19 to August 21. The allotment was finalised on August 22, with the listing scheduled for August 26.
The IPO price band was set between ₹850 to ₹900 per share. At the upper end of the price band, the company raised ₹600.29 crore. This included a fresh issue of 22.22 lakh equity shares worth ₹200 crore and an offer-for-sale (OFS) of 44.47 lakh shares, totalling ₹400.29 crore.
The IPO was subscribed 93.53 times overall, with significant interest from all categories of investors. The retail category was subscribed 19.11 times, the Qualified Institutional Buyers (QIBs) category 205.41 times, and the Non-Institutional Investors (NII) category 128.42 times.
Ambit Private Limited and Axis Capital were the lead managers for this IPO, while Link Intime India Private Ltd served as the IPO registrar.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
