Interarch IPO Surges with 10X Subscription by Day 2, NIIs Dominate the Action – Latest GMP Inside!
Interarch Building Products’ IPO has been a huge success, with the issue being subscribed more than 10 times by the second day. Non-institutional investors (NIIs) were especially active, driving up demand. The IPO aims to raise ₹600.29 crore, with ₹200.00 crore from a fresh issue of 0.22 crore shares and ₹400.29 crore from the sale of 0.44 crore shares by promoters and investors.
The IPO includes a special reservation of ₹2 crore for employees, who also get a discount of ₹85 per share. At the highest end of the price range, the IPO is set to raise ₹600.29 crore. Investors can apply for a minimum of 16 shares and in multiples of 16 shares after that.
The offer is structured using the book-building process. Up to 50 per cent of the shares are allocated for qualified institutional buyers (QIBs), at least 15 per cent for non-institutional investors (NIIs), and 35 per cent for retail investors.
The IPO is being managed by Ambit Private Limited and Axis Capital Limited, with Link Intime India Private Limited handling the registrar duties. The equity shares will be listed on both the BSE and NSE.
About Interarch Building Products
Interarch Building Products Limited is one of India’s top providers of turnkey pre-engineered steel construction solutions. The company offers a full range of services from design and engineering to manufacturing and on-site project management for the installation of pre-engineered steel buildings (PEBs).
As of March 31, 2023, Interarch had the second-largest installed capacity in the industry, capable of producing 141,000 metric tonnes per year. In 2023, it held a 6.1 per cent market share in revenue among integrated PEB companies in India.
Their clients in the industrial and manufacturing sectors include well-known companies like Grasim Industries Ltd, Berger Paints India Ltd, Blue Star Climatech Ltd, Timken India Ltd, and Addverb Technologies Ltd. They also serve clients in the infrastructure sector, including InstaKart Services Private Ltd.
The company’s revenue grew by 15 per cent, and profit after tax increased by six per cent between the financial years ending March 31, 2023, and March 31, 2024.
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