Interarch Building Products Set for IPO Launch On 19 August

Interarch Building Products Limited, a leading provider of turnkey pre-engineered steel construction solutions in India, is set to launch its Initial Public Offering (IPO) with a book-built issue size of Rs.600.29 crores. This IPO is a significant milestone for the company as it aims to expand its operational capabilities and strengthen its market position.

IPO Details and Subscription Information

The Interarch Building Products IPO consists of a fresh issue of 0.22 crore shares, aggregating Rs.200.00 crores, and an offer for sale (OFS) of 0.44 crore shares, totaling Rs.400.29 crores. The IPO is set to open for subscription on August 19, 2024, and will close on August 21, 2024. The price band has been set between Rs.850 to Rs.900 per share. Investors can expect the allotment to be finalized on August 22, 2024, with a tentative listing date on the BSE and NSE scheduled for August 26, 2024. 

Ambit Private Limited and Axis Capital Limited are the book-running lead managers for this IPO, with Link Intime India Private Ltd acting as the registrar.

Company Overview and Market Position

Incorporated in 1983, Interarch Building Limited has established itself as a premier player in the pre-engineered steel building (PEB) sector in India. The company offers a comprehensive range of services, including design, engineering, manufacturing, and on-site project management. Their product offerings span across various PEB Contracts and PEB Sales, which include metal ceilings, corrugated roofing, PEB steel structures, and light gauge framing systems. Interarch’s integrated approach allows it to cater to diverse industrial needs, positioning it as a leader in the PEB market.

Objectives  of the IPO

The net proceeds from the Interarch Building Products IPO will be utilized for several key objectives, including financing the capital expenditure for setting up a new PEB manufacturing unit in Andhra Pradesh as part of the Phase 2 capacity development plan, upgrading existing manufacturing facilities in Kichha, Tamil Nadu, and Pantnagar, investing in IT assets to enhance the company’s information technology infrastructure, funding incremental working capital requirements, and addressing general corporate purposes.

Conclusion: The Interarch Building Products IPO, with a total issue size of Rs. 600.29 crores, provides a combination of fresh issue and offer for sale, with subscription dates from August 19 to August 21, 2024. With a price band set between Rs. 850 to Rs. 900 per share and expected listing on August 26, 2024, the IPO is a critical step in the company’s financial strategy, aimed at funding key expansion and upgradation projects across its manufacturing facilities.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.