Interarch Building Products Limited, on Monday (August 19), the first day of its bidding was subscribed 3.2 times. Priced between Rs 850 and Rs 900 per share, the IPO received bids for 1,49,99,008 shares against the 46,91,585 shares on offer.
The IPO opened on Monday, August 19, 2024, and is scheduled to close on Wednesday, August 21, 2024.
Category-Wise Subscription Details
– Non-Institutional Investors (NII) led the charge, subscribing to their portion 7.85 times.
– The Employee Reservation portion also saw a healthy subscription of 4.97 times.
– Retail Investors bid 2.76 times their allotted portion.
– Meanwhile, the Qualified Institutional Buyers (QIB) segment lagged, with only 0.27 times subscription so far.
The issue is set to close on August 21, 2024, with plans to list on both the BSE and NSE Representative Image
Anchor Investor Participation
A day before the opening of the issue, the Interarch raised Rs 179.49 crores from a mix of foreign and domestic institutional investors, providing the issue with a solid foundation.
Key players in the anchor round included ICICI Prudential MF, Whiteoak Capital MF, Mirae Asset MF, and SBI General Insurance, among others.
IPO Details and Listing Plans
The IPO is managed by Ambit Private Limited and Axis Capital Limited as the lead book runners, while Link Intime India Private Limited serves as the registrar.
The issue is set to close on August 21, 2024, with plans to list on both the BSE and NSE.
About the company
Fouunded in 1983, Interarch Building Products is one of the leading turnkey which provides a pre-engineered steel construction solutions. the firm looks after the designing and engineering to manufacturing, and also manage on-site installation and assembly of pre-engineered steel buildings (PEB).
