Interarch Building Products IPO opened its issue for subscription on August 19 to raise a total of Rs 600.29 crore through a combination of fresh shares and an offer for sale. The company will stop taking bids for its issue on August 21.
Price Band
The company has kept the IPO price band in a range of Rs 850 to Rs 900 per equity share.
GMP
The shares of the company were attracting a premium of over 36% in the grey market. It is an unofficial place where shares change hands illegally ahead of listing.
Allotment and Listing
The shares of Interarch Building Products’ allotment is expected to be finalised by August 22. The listing is likely to be on August 26 on NSE and BSE, as per the tentative schedule.
About Interarch Building Products
The company provides turnkey pre-engineered steel construction solutions in India. It also offers integrated facilities for design, engineering, manufacturing, and on-site project management for the installation and erection of pre-engineered steel buildings (PEB).
Minimum Investment Requirement
A retail buyer needs a minimum investment of Rs 14,400 to bid for at least 16 shares of in a single lot. Meanwhile, there are different lot sizes for small NIIs and big NIIs.
BRLMs and Registrar
Ambit Pvt. Ltd. and Axis Capital are the book-running lead managers of the IPO. Link Intime India Pvt. Ltd. is the registrar for the issue.