 "Interarch Building Products Ltd to open Rs 600-cr IPO on August 19 | IPO News")
As of March 31, 2024, Interarch Building Products’ order book stood at over Rs 1,153 crore.
Construction solutions provider Interarch Building Products Ltd on Tuesday said it has fixed a price band of Rs 850-900 per share for its Rs 600-crore initial public offering (IPO).
The initial share-sale will open for public subscription on August 19 and conclude on August 21, the company announced.
The IPO is a combination of a fresh issue of shares worth up to Rs 200 crore and an offer-for-sale of up to 4.447 mn shares valued at Rs 400 crore, at the upper end of the price band, by the promoters and investor-selling shareholders. This aggregates the total issue size to Rs 600 crore.
Proceeds from the fresh issue will be used for capital expenditures, system upgrades, and general corporate purposes.
Half of the issue size has been reserved for qualified institutional investors, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.
Further, investors can bid for a minimum of 16 equity shares and in multiples of 16 equity shares thereafter.
Interarch Building Products is one of the leading turnkey pre-engineered steel construction solution providers in India with integrated facilities for design and engineering, manufacturing, and on-site project management capabilities for installation and erection of pre-engineered steel buildings.
As of March 31, 2024, Interarch Building Products’ order book stood at over Rs 1,153 crore.
The company’s revenue from operations during the fiscal year 2024 increased to Rs 1,293.30 crore from Rs 1,123.93 crore in the previous year and profit after tax grew to Rs 86.26 crore from Rs 81.46 crore.
Ambit Pvt Ltd, and Axis Capital Ltd are the book running lead managers to the issue. The equity shares are proposed to be listed on BSE and NSE.
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First Published: Aug 13 2024 | 2:25 PM IST
