Interarch Building makes strong stock market debut, shares list at 44% premium | Interarch Building shares up 44.33%, listed at ₹1,299: Issue price was ₹900; Company provides engineering solutions

Listing ceremony of Interarch Building Products Limited took place on National Stock Exchange.

The share of Interarch Building Products Limited was listed on the National Stock Exchange (NSE) at ₹ 1,299, up 44.33% from the issue price. At the same time, the share was listed on the Bombay Stock Exchange (BSE) at ₹ 1,291.20, up 43.47% from the issue price. The issue price of this IPO was ₹ 900.

This IPO was open for investors from August 19 to August 21. The IPO was subscribed a total of 93.79 times in three trading days. The retail category was subscribed 19.46 times, qualified institutional buyers (QIB) 197.29 times and non-institutional investors (NII) category 130.91 times.

The issue of Interarch Building Products was ₹ 600.29 crore
This issue of Interarch Building Products Limited was worth a total of ₹ 600.29 crores. For this, the company issued 2,222,222 fresh shares worth ₹ 200 crores. Whereas, the existing investors of the company sold 4,447,630 shares worth ₹ 400.29 crores through Offer for Sale i.e. OFS.

Retail investors could bid for a maximum of 208 shares
Interarch Building Products had fixed the price band of this issue at ₹850-₹900. Retail investors could bid for a minimum of one lot i.e. 16 shares. If you had applied for 1 lot as per the upper price band of the IPO of ₹900, you would have had to invest ₹14,400 for it.

At the same time, retail investors could apply for a maximum of 13 lots i.e. 208 shares. For this, investors would have to invest ₹ 187,200 according to the upper price band.

35% of the issue was reserved for retail investors
The company had reserved 50% of the issue for qualified institutional buyers (QIB). Apart from this, 35% was reserved for retail investors and the remaining 15% for non-institutional investors (NII).

InterArch Building Products Limited was established in 1983
Interarch Building Products Limited was established in 1983. It provides turnkey pre-engineered steel construction solutions in India. The company provides design, engineering, manufacturing and on-site project management services for the construction and installation of pre-engineered steel buildings (PEB).

The company has four manufacturing facilities, two in Sriperumbudur, Tamil Nadu and two in Pantnagar and Kichha, Uttarakhand.

What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering or IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.