Interarch Building Products IPO Day 2: Subscribed 10.84 Times; NII Portion Soars To 30.82 Times

The IPO of Interarch Building Products Limited on the second day of bidding on Tuesday, August 20 was subscribed 10.84 times.

The IPO opened for subscription on Monday, August 19, 2024, and is set to close on Wednesday, August 21, 2024.

IPO Details - Day 2

On the second day of bidding (August 20), the IPO received bids for 5.08 crore shares against the 46.91 lakh shares on offer.

NII: The non-institutional investor (NII) category saw an impressive 30.82 times oversubscription.

Employee portion: The employee reservation portion was subscribed 11.75 times.

Retail portion: The retail portion had a subscription rate of 7.31 times.

QIBs: Qualified institutional buyers (QIBs) remained conservative, with a subscription of 1.47 times.

Anchor Investors

A day before the IPO went live, the company raised Rs 179.49 crores from its anchor investors.

The major players in the list included well-known names such as ICICI Prudential MF, SBI General Insurance, Mirae Asset MF, and Bajaj Allianz Insurance, among others.

About the company

The company was founded in 1983, and has an experience of over forty years in the PEB industry.

From design and engineering to manufacturing and project management, Interarch delivers end-to-end services to its clients, enabling them to complete industrial and infrastructure projects

Listing and Final Details

Interarch’s equity shares are set to be listed on both the BSE and NSE.

The issue, managed by Ambit Private Limited and Axis Capital Limited, will close for subscription on August 21, 2024.

Interarch Building Products IPO Day 1 - August 19

On the first day of its bidding on August 19, the IPO was subscribed 3.2 times.