• Source:JND
Add as a preferred

The initial public offering of construction solutions provider InterArch Building Products was fully subscribed on Monday, the first day of subscriptions. The Rs 600-crore initial share sale received bids for 1,49,85,152 shares against the 46,91,585 shares on offer, which translates into 3.19 times subscriptions, according to NSE data.

For non-institutional investors, the segment was subscribed 7.85 times, while the category for retail individual investors (RIIs) was subscribed 2.75 times. The quota of qualified institutional buyers (QIBs) received 27 per cent of subscriptions.

Also Read: Finance Minister Meets Heads Of PSBs, Exhorts Banks To Improve Deposit Growth

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 is Rs 850-900 per share.

The initial share sale will conclude on August 21. The 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 installation and erection of pre-engineered steel buildings.

Ambit Pvt Ltd and Axis Capital are the lead managers running the books on the issue. The equity shares are proposed to be listed on BSE and NSE.

Also Read: TruAlt Bioenergy To Raise Rs 750 Crore Through IPO; Files DRHP With Sebi