Interarch Building Products IPO.
Unlisted shares of Interarch Building Products Ltd are trading Rs 365 higher in the grey market, signalling a 40.56 per cent listing gain from the public issue.
Interarch Building Products IPO Allotment Today: The IPO allotment of construction solutions provider Interarch Building Products Ltd is likely to be finalised on Thursday, August 22, in the evening. The Interarch Building Products IPO, which was open for public subscription between August 19 and August 21, received 93.79 per cent subscription. The IPO allotment is scheduled to be finalised today and if allotted the scrips, the investors will receive bank debit messages. They can also check the Interarch Building Products IPO allotment status on both BSE and NSE websites, as well as on registrar Link Intime India’s portal.
The 600.29-crore IPO received a whopping 93.79 times subscription, garnering bids for 43,87,55,568 shares as against 46,53,341 shares on offer.
Its price band was fixed at Rs 850-Rs 900 apiece. The Interarch Building Products IPO listing will likely take place on both BSE and NSE on August 26.
Interarch Building Products IPO: How To Check Allotment Status
Once the IPO allotment is finalised, the status can be checked by following these steps:
1) Go to the official BSE website via the URL —https://www.bseindia.com/investors/appli_check.aspx.
2) Under ‘Issue Type’, select ‘Equity’.
3) Under ‘Issue Name’, select ‘Interarch Building Products Ltd’ in the dropbox.
4) Enter your application number, or the Permanent Account Number (PAN).
5) Then, click on the ‘I am not a robot’ to verify yourself and hit ‘Search’ option.
Your share application status will appear on your screen.
You can also visit direct Link Intime portal — and check the Interarch Building Products IPO allotment status.
Interarch Building Products IPO GMP Today
According to market observers, unlisted shares of Interarch Building Products Ltd are trading Rs 365 higher in the grey market than their issue price. The Rs 365 grey market premium or GMP means the grey market is expecting a 40.56 per cent listing gain from the public issue.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Interarch Building Products IPO: Details
The initial public offer (IPO) has a fresh issue of up to Rs 200 crore and an offer for sale of up to 44,47,630 equity shares.
The price range for the offer is fixed at Rs 850-900 per share. The initial public offer of Interarch Building Products was fully subscribed on the first day of subscription on Monday.
The initial share sale will conclude on August 21.
Proceeds from the fresh issue will be used for capital expenditures, system upgrades and general corporate purposes.
Interarch Building Products is one of the leading turnkey pre-engineered steel construction solution providers in India with integrated facilities for design and engineering, manufacturing and on-site project management capabilities for the installation and erection of pre-engineered steel buildings.
Ambit Private Limited and Axis Capital are the book-running lead managers to the offer.
The equity shares are proposed to be listed on BSE and NSE.
