- By Aditya Pratap Singh
- Tue, 20 Aug 2024 06:43 PM (IST)
- Source:JND
InterArch Building IPO Bidding Rates: The initial public offering (IPO) of construction solutions provider InterArch Building Products was subscribed 10.83 times on the second day of bidding on Tuesday. The bidding for 46,91,585 shares offered in the Rs 600-crore initial share sale was met with bids for 5,08,30,992 shares, according to NSE data.
Shares reserved for non-institutional investors, the portion was subscribed 30.81 times while the retail individual investor (RII) quota was subscribed 7.30 times. The Qualified Institutional Buyers (QIB) segment received 1.47 times subscriptions.
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The initial public offer (IPO) offers a fresh issue of up to Rs 200 crore and sale of up to 44,47,630 equity shares. The offer price range has been set at Rs 850-900 per share.
InterArch Building Products’ initial public offering was fully subscribed on Monday, the first day of subscription. The initial share sale will end on August 5.
Proceeds from the fresh issue will be used for capital expenditures, system upgrades, and general corporate purposes.
InterArch Building Products is one of India’s leading turnkey pre-engineered steel construction solution providers with integrated facilities for design and engineering, manufacturing, and on-site project management capabilities for the installation and erection of pre-engineered steel buildings.
Ambit Pvt Ltd and Axis Capital are the lead managers running the books of the offering. The equity shares are proposed to be listed on BSE and NSE.
(With PTI's Input)
