Interarch Building Products IPO to Open on August 19 with Rs 600 Crore Target

Interarch Building Products Ltd has set a price band of Rs 850-900 per share for its Rs 600-crore IPO, scheduled from August 19 to August 21. The proceeds will fund capital expenditures and corporate purposes. The issue includes fresh shares and an offer-for-sale by promoters and investors.

Interarch Building Products Ltd announced on Tuesday that it has set a price band of Rs 850-900 per share for its upcoming Rs 600-crore initial public offering (IPO).

The IPO is slated to open on August 19 and close on August 21, the company revealed. It includes a fresh issue of shares worth up to Rs 200 crore and an offer-for-sale of up to 44.47 lakh shares valued at Rs 400 crore by promoters and selling shareholders, aggregating to a total issue size of Rs 600 crore.

Proceeds from the fresh issue will be allocated towards capital expenditures, system upgrades, and general corporate purposes. Half of the issue size is reserved for qualified institutional investors, 35% for retail investors, and 15% for non-institutional investors. Investors can bid for a minimum of 16 equity shares and in multiples of 16 thereafter. Interarch, a top turnkey pre-engineered steel construction solutions provider with integrated design, manufacturing, and project management, reported an order book of over Rs 1,153 crore as of March 31, 2024. Its fiscal year 2024 revenue grew to Rs 1,293.30 crore, up from Rs 1,123.93 crore, with a profit after tax of Rs 86.26 crore. Ambit Pvt Ltd and Axis Capital Ltd are the lead managers, and the shares will be listed on BSE and NSE.

(With inputs from agencies.)