Interarch Building Products IPO: Launching August 19 with ₹850-900 Price Band – Key Details Inside
Interarch Building Products Ltd, a prominent Noida-based company, is all set for its initial public offering (IPO), starting August 19. They’ve priced the shares between ₹850 and ₹900 each.
IPO Details
The IPO includes new shares worth ₹200 crore and an offer for sale (OFS) of up to 44.48 lakh shares by current promoters and shareholders, potentially valued at ₹400 crore if sold at the top price. The funds from the fresh issue will be used for upgrading systems, general corporate needs, and other capital expenditures.
The share allocation of the IPO is structured as follows: 50% for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors. Interested buyers can bid for a minimum of 16 shares, with additional purchases in multiples of 16.
About Interarch Building Products
Interarch is a leader in providing turnkey pre-engineered steel construction solutions. Their services span design and engineering, manufacturing, and on-site management for installing steel buildings.
In the fiscal year 2023, Interarch’s operational revenue increased by 34.6%, totaling ₹1,123.93 crore, up from ₹834.94 crore the previous year. This surge was due to more revenue from building contracts and product sales, aided by a wider presence in states like West Bengal and Telangana and forays into new sectors. The profit after tax jumped significantly by 375.54%, reaching ₹81.46 crore, compared to ₹17.13 crore the previous year.
For the half-year ending on September 30, 2023, Interarch reported operational revenues of ₹591.53 crore and a net profit of ₹34.57 crore. By that date, the company had an order book of ₹1,036.27 crore.
Ambit Pvt Ltd and Axis Capital Ltd are managing the IPO, and the company’s shares are expected to be listed on both the BSE and NSE.
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