Interarch Building Products IPO Day 2: Public Issue Subscribed 6.86x Times So Far

Interarch Building Products IPO Day 2: Public Issue Subscribed 6.86x Times So Far

Consolidated data available on the NSE indicates that 2.09 crore shares were bid for in the Interarch Building Products IPO, out of the 46.91 lakh shares that were offered.

G R MukeshUpdated: Tuesday, August 20, 2024, 01:43 PM IST
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Investor reaction to the Interarch Building Products IPO has been largely positive. Tuesday, the second day of bidding, saw a 6.83-times subscription to the issue.

Consolidated data available on the NSE indicates that 2.09 crore shares were bid for in the Interarch Building Products IPO, out of the 46.91 lakh shares that were offered.

Retail investors bid for 88.32 lakh shares against the 23.71 lakh shares allotted for the category, having subscribed to their portion 3.72 times. The NIIs submitted applications for 1.16 crore shares, or 11.42 times the 10.16 lakh shares allotted for the category.

Conversely, out of the over 12.76 lakh shares reserved for them, only 3.45 lakh shares were applied for by qualified institutional buyers (QIBs). Only 27 per cent of the QIBs' portion was booked.

IPO subscription dates

Subscriptions for the Interarch Building Products IPO are being accepted through August 21. On August 22, the IPO allotment status is anticipated to be finalised.

On August 23, shares will be credited into the Demat accounts of successful bidders, and refunds for unsuccessful bidders will begin that same day. The NSE and BSE are anticipated to list the Interarch Building Products IPO shares on August 26.

IPO price band and offer size

The book-built IPO for Interarch Building Products is valued at Rs 600.29 crore and consists of 66.47 lakh shares. 19.94 lakh equity shares are included in the IPO offer size as an anchor allocation.

A new issue of 22 lakh shares valued at Rs 200 crore and an offer for sale (OFS) of more than 44 lakh shares valued at Rs 400.29 crore make up the mainboard issue.

A fixed price range of Rs 850 to Rs 900 per equity share has been set for the IPO. A single lot of 16 shares, or Rs 14,400, is the minimum application size.

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