The IPO (Initial Public Offering) of Interarch Building Products Limited was subscribed 10.84 times on the second day of bidding, data from BSE showed. The issue received bids of 5,08,66,544 shares against the offered 46,91,585 equity shares, at a price band of ₹850–900, according to the data available on the stock exchanges.
Non-Institutional Investors Portion and Employee Portion were subscribed 30.82 times and 11.75 times respectively, whereas Qualified Institutional Buyer Portion was subscribed 1.47 times.Retail Portion Portion was subscribed with 7.31 times. The issue kicked off for subscription on Monday, August 19, 2024, and will close on Wednesday, August 21, 2024.
A day before the opening of the issue, Interarch Building Products Ltd raised Rs 179.49 crores from anchor investors. Foreign and Domestic Institutions who participated in the anchor were ICICI Prudential MF, Whiteoak Capital MF, Mirae Asset MF, 3P India MF, Pinebridge Global Funds, LC Pharos MF, SBI General Insurance, Eastspring Investment India, Bajaj Allianz Insurance Company, Chartered Finance & Leasing Ltd, Bengal Finance and Investment, Aryabhata MF, Carnelian Capital Compounder Fund, Societe Generale, and Subhkam Ventures (I) Pvt. Ltd.
Ambit Private Limited, and Axis Capital Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.
