Interarch Building Products' IPO Fully Subscribed on Debut Day

The IPO of Interarch Building Products was fully subscribed on its opening day. The Rs 600 crore issue received bids for 3.19 times the shares on offer. The offer includes a fresh issue of Rs 200 crore and an offer for sale. It concludes on August 21.

The initial public offering (IPO) of Interarch Building Products was fully subscribed on its first day of subscription, Monday.

The Rs 600 crore IPO saw bids for 1,49,85,152 shares against the 46,91,585 shares available, marking a 3.19 times subscription, according to data from the National Stock Exchange (NSE).

The segment for non-institutional investors was oversubscribed by 7.85 times, while the retail individual investors' category reached 2.75 times subscription. Qualified Institutional Buyers (QIBs) subscribed at 27 percent.

The IPO includes a fresh issue of shares worth up to Rs 200 crore and an offer for sale of 44,47,630 equity shares. The price range for the shares is set between Rs 850 and Rs 900 apiece.

Proceeds from the fresh share issue are earmarked for capital expenditures, system upgrades, and general corporate purposes. The offer will close on August 21.

Interarch Building Products is a leading player in turnkey pre-engineered steel construction solutions in India, featuring integrated design, engineering, manufacturing, and on-site project management capabilities.

Ambit Private Ltd and Axis Capital are the book-running lead managers for the issue. The shares are expected to be listed on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).