Interarch Building Issue Launches at ₹850-₹900 Price Band

Interarch Building Issue: Interarch Building Products Pvt Ltd raised Rs 179.49 crore from its anchor investors offerings.

The Interarch Building Products IPO launches today, August 19 with a fresh issue of shares worth Rs 600 crore with a set price band of Rs 850 to 900.

The Interarch Building Products IPO will be closed on August 21 and the Interarch Building Products IPO allotment status is expected to be finalized on Thursday, August 22.

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The company’s public subscription consists of fresh issues of 2,222,222 shares worth Rs 200 crore and OFS of up to 44,47,630 shares which will be issued by the company’s promoters Selling Shareholders and Investor Selling Shareholders.

The offer will comprise a discount of Rs 85 per share for employees and a reservation of Rs 2 crore for eligible employees.

The minimum lot size that investors can bid for is 16 equity shares. The company has set aside 50% of the net issue for Qualified Institutional Buyers (QIB), 35% fo the net offer for retail investors, and the rest 15% for the Non-Institutional Bidder.

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Interarch Building Products is among the biggest turnkey pre-engineered steel construction solution providers. The company provides services such as the installation and erection of pre-engineered steel buildings for design and engineering, manufacturing, and on-site project management.

On Friday, the company said that it has allocated 19,94,288 equity shares to anchors investors for Rs 900 for each share.

Companies that were part of the anchor portion were ICICI Prudential MF, Whiteoak Capital MF, Mirae Asset MF, 3P India MF, Pinebridge Global Funds, LC Pharos MF, SBI General Insurance, Eastspring Investment India, Bajaj Allianz Insurance Company, Chartered Finance & Leasing Ltd, Bengal Finance and Investment, Aryabhata MF, Carnelian Capital Compounder Fund, Societe Generale, and Subhkam Ventures (I) Pvt. Ltd.

Among the funds raised from its IPO, Rs 58.526 crore will be used to fund the capital costs of building the project, and upgrading the Kichha Manufacturing Facility in Tamil Nadu, Tamil Nadu Manufacturing Facility I, Tamil Nadu Manufacturing Facility II, and the Pantnagar Manufacturing Facility.

Furthermore, Rs 10.971 crore will be invested in IT assets to improve the company’s IT infrastructure while Rs 55 crore Will be used ofr general business operations and for additional working capital needs.

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