Interarch Building Products Ltd., a leading provider of pre-engineered steel construction solutions in India, successfully concluded its Initial Public Offering (IPO) on August 21, 2024. The issue, which comprised a fresh issue of shares worth Rs 200 crore and an offer-for-sale (OFS) of up to 44,47630 equity shares, garnered strong investor interest.
Key Highlights of the IPO
- Price Band: The IPO was priced at Rs 850 to Rs 900 per share.
- Issue Size: The total issue size was Rs 600.29 crore.
- Subscription Status: The IPO was oversubscribed by 3.19 times on the first day itself, indicating strong investor confidence.
- Anchor Investors: The company raised Rs 179.49 crore from anchor investors prior to the IPO.
- Lead Managers: Ambit Private Limited and Axis Capital Limited were the book-running lead managers for the issue.
- Registrar: Link Intime India Private Limited was the registrar to the offer.
About Interarch Building Products
Interarch Building Products is a well-established player in the pre-engineered steel construction market. It offers a comprehensive range of products and services, including design, engineering, manufacturing, and installation of steel structures. The company caters to a diverse clientele, including industrial, commercial, and infrastructure sectors.
Reasons for Investor Interest
Several factors contributed to the strong investor response to the Interarch Building Products IPO:
- Strong Financial Performance: The company has demonstrated consistent growth in revenue and profitability over the years.
- Large Addressable Market: The pre-engineered steel construction market in India is expected to grow significantly due to increasing urbanization and infrastructure development.
- Experienced Management Team: Interarch Building Products is led by a seasoned management team with a proven track record.
- Diversified Customer Base: The company has a wide range of clients across various industries, reducing its reliance on any single sector.
Important Dates
IPO Open Date: Monday, August 19, 2024
IPO Close Date: Wednesday, August 21, 2024
Basis of Allotment: Thursday, August 22, 2024
Initiation of Refunds: Friday, August 23, 2024
Credit of Shares to Demat: Friday, August 23, 2024
Listing Date: Monday, August 26, 2024
Refer Red Herring prospectus for more details