August 22, 2024
New Delhi, India
Interarch Building IPO
The much-anticipated IPO of Interarch Building Products, a leading player in the pre-engineered steel construction sector, concluded its bidding phase between August 19-21, 2024. With shares offered at a fixed price band of ₹850-900 per share and a lot size of 16 shares, the IPO garnered significant interest from investors, resulting in a robust oversubscription.
IPO Details: Interarch Building Products raised ₹600.29 crore through this IPO, which included a fresh issue of up to ₹200 crore and an offer-for-sale (OFS) of up to 44,47,630 shares. The IPO was subscribed an impressive 93.53 times, with strong demand from qualified institutional buyers (QIBs), who subscribed to their quota 205.41 times. Non-institutional investors (NIIs) subscribed 128.42 times, while retail investors and employees subscribed 19.11 and 24.19 times, respectively.
Allotment and Listing: The basis of share allotment is scheduled to be finalized on Thursday, August 22, 2024. Investors can expect to receive notifications about the debit of funds or revocation of their IPO mandates by Friday, August 23, or over the weekend. Shares of Interarch Building Products are tentatively set to list on the BSE and NSE on Monday, August 26, 2024.
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Grey Market Premium (GMP): Following the strong response to the IPO, the grey market premium (GMP) for Interarch Building Products has surged to ₹365-370 per share, indicating a potential listing gain of nearly 40% for investors. The GMP had initially hovered around ₹300 when the IPO opened for bidding, reflecting growing investor confidence.
Company Overview: Founded in 1983, Interarch Building Products is a prominent provider of turnkey pre-engineered steel construction solutions in India. The company’s offerings include comprehensive services covering design, engineering, manufacturing, and on-site project management for the installation of pre-engineered steel buildings (PEB). With integrated facilities and a strong market presence, Interarch is well-positioned in the construction industry.
How to Check IPO Allotment Status: Investors who applied for the Interarch Building Products IPO can check their allotment status through the following steps:
- On BSE Website:
- Visit the BSE IPO Application Status Page.
- Select “Equity” under the issue type.
- Choose “Interarch Building Products Limited” from the dropdown menu under the issue name.
- Enter your application number and PAN ID.
- Complete the captcha and click “Search.”
- On Link Intime India Portal:
- Visit the Link Intime IPO Allotment Page.
- Select “Interarch Building Products Limited” from the dropdown list.
- Choose the application number, Demat Account number, or PAN ID as your preferred mode.
- Select the application type (ASBA or non-ASBA).
- Enter the required details and complete the captcha.
- Click “Submit” to view your allotment status.
Registrar Details: Link Intime India, the registrar for the Interarch Building Products IPO, is responsible for processing all applications, conducting the allotment, and handling post-issue investor queries. Investors can reach out to them for assistance regarding any issues related to the IPO allotment.
With the allotment date fast approaching and a strong GMP suggesting favorable listing gains, investors in Interarch Building Products IPO are eagerly awaiting the next steps. Keep an eye on the listing date and use the provided resources to check your allotment status to stay informed.
Disclaimer:
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