Interarch Building Products IPO Sees Robust Demand, Subscribed 10.83 Times on Day Two

The initial public offering (IPO) of Interarch Building Products garnered strong investor interest, achieving 10.83 times subscription on its second day of bidding. The Rs 600 crore IPO, with a price range of Rs 850-900 per share, aims to fund capital expenditures, system upgrades, and general corporate purposes.

The initial public offer of construction solutions provider Interarch Building Products received 10.83 times subscription on day two of bidding on Tuesday.

The Rs 600 crore initial share sale attracted bids for 5,08,30,992 shares against the 46,91,585 shares on offer, according to NSE data.

The non-institutional investors' portion had a 30.81 times subscription, while retail individual investors (RIIs) subscribed 7.30 times, and qualified institutional buyers (QIBs) got 1.47 times subscription.

The IPO includes a fresh issue of up to Rs 200 crore and an offer for sale of up to 44,47,630 equity shares, with a price range set at Rs 850-900 per share.

On the first day, the IPO was fully subscribed, and it is set to conclude on August 21. Proceeds will be used for capital expenditures, system upgrades, and general corporate purposes.

Interarch Building Products is a leading turnkey pre-engineered steel construction solution provider in India, with integrated facilities for design, engineering, manufacturing, project management, and installation of pre-engineered steel buildings.

Ambit Private Limited and Axis Capital are the book-running lead managers for the offer, with equity shares proposed to be listed on BSE and NSE.