The IPO of the construction company will open on August 19
Business Business: Interarch Building Products Limited’s IPO will open on August 19. Investors have time till August 21 to subscribe to this IPO. Investors can apply for a minimum of 16 shares. The company has set the price range of Rs 850 to Rs 900 for each share with a face value of Rs 10 for its first IPO. The IPO consists of a fresh issue of up to Rs 200 crore and an offer for sale (OFS) of up to 44,47,630 equity shares by the selling promoter shareholders and the selling investor shareholders.
The offer includes a set aside amount of Rs 2 crore for eligible employees and an employee discount of Rs 85 per share. Let us tell you that Interarch Building Products Limited has been one of the leading suppliers of prefabricated steel structures in India for almost 40 years. It has integrated design, fabrication and manufacturing facilities. The company also has on-site project management capabilities for the installation and construction of prefabricated steel buildings (“PEBs”). For the six months ended September 30, 2023, the company reported operating revenue of ₹591.53 crore and profit after tax of ₹34.57 crore. The company’s order book stood at ₹1,036.27 crore as on September 30, 2023. The lead managers to the issue are Ambit Private Limited and Axis Capital Limited. The stock is expected to be listed on both BSE and NSE. The company will use the proceeds from the offering for capital expenditure, system upgrades and general corporate purposes.
