Interarch Building Products IPO Day 2: See subscription details, GMP & more

Interarch Building Products IPO subscription status: The initial public offering (IPO) of Interarch Building Products continues to receive strong demand from investors on the second day of subscription. Interarch Building Products IPO, which opened for public subscription on Monday, was fully subscribed on the first day.

At around 12:25 PM on Tuesday, August 20, the public issue of Interarch Building Products was subscribed 5.80 times, with the portion for non-institutional investors receiving the highest subscription at 15.43 times. The category for Retail Individual Investors (RIIs) has been subscribed 4.76 times, while Qualified Institutional Buyers (QIBs) received 0.26 times subscription.

The three-day subscription window to bid for the Interarch Building Products IPO closes tomorrow, August 21, 2024.

Interarch Building Products IPO grey market premium (GMP)

The unlisted shares of Interarch Building Products continue to command a strong grey market premium on the second day of subscription, reflecting positive demand among investors. Shares of Interarch Building Products were quoted trading at a premium of around Rs 335, or 37.22 percent above the upper end of the issue price, on Tuesday.

Interarch Building Products IPO details

Available at a price band of Rs 850 - 900, and a lot size of 16 shares, the Interarch Building Products IPO comprises a fresh issue of 2,222,222 shares, aggregating up to Rs 200 crore, and an offer for sale where the company's promoters and investors are offloading 4,447,630 equity shares with a face value of Rs 10 apiece. Investors can bid for a minimum of 16 shares and a maximum of 208 shares (13 lots). The minimum amount required by a retail investor to bid for the IPO is Rs 14,400.

Interarch Building Products IPO objective

Interarch Building Products plans to use the net proceeds for capital expenditures on a new manufacturing unit in Andhra Pradesh, upgrading existing facilities in Tamil Nadu and Uttarakhand, enhancing IT infrastructure, meeting working capital needs, and general corporate purposes.

Interarch Building Products IPO allotment, listing date

The allotment of the company’s shares is scheduled to take place on Thursday, August 22, 2024, and the shares are likely to be credited to demat accounts on Friday, August 23, 2024.

Interarch Building Products shares are scheduled to make their debut on the stock exchanges, BSE and NSE, on August 26, 2024.

Should you subscribe to the Interarch Building Products IPO

Several noted brokerage firms, including Reliance Securities, Deven Choksey Research, SBI Securities, and Swastika Investmart, have shared their outlook on the initial public offering of Interarch Building Products for the investors. READ MORE