Interarch Building Products IPO Day 2: GMP, subscription status, review, other details. Apply or not?

  • Interarch Building Products IPO GMP today: According to market observers, shares of the company are available at a premium of 326 in the grey market today

Dhanya Nagasundaram
Updated20 Aug 2024, 06:48 AM IST
Interarch Building Products IPO opens for subscription on Monday, August 19, and closes on Wednesday, August 21. (Image Credit: https://www.interarchbuildings.com/)
Interarch Building Products IPO opens for subscription on Monday, August 19, and closes on Wednesday, August 21. (Image Credit: https://www.interarchbuildings.com/)

Noida-based Interarch Construction Products Ltd, a leader in providing complete pre-engineered steel construction solutions, hit the Indian primary market on 19 August 2024. Bidding for Interarch Construction Products IPO will remain open until 21st August 2024 i.e. Wednesday this week. The company has set a price band for shares that ranges from 850 to 1,900. The IPO will close on August 21, and the company raised 179.49 crore from anchor investors on Friday, August 23.

Retail investors will receive thirty-five percent of the issue size, qualified institutional investors will receive half of it, and non-institutional investors will get the remaining fifteen percent.

Following the minimum of 16 equity shares, investors may bid in multiples of 16 equity shares.

The Interarch Building Products initial public offering (IPO) basis for share allocation is expected to be finalised on Thursday, August 22. The business will commence refunds on the same day, and on Friday, August 23, the shares will be credited to the allottees' demat accounts. Interarch Building IPO shares are likely to be listed on BSE and NSE on Monday, August 26.

Also Read | Interarch Building Products IPO: Firm mobilises ₹179 cr from anchor investors

Interarch Building Products is a leading provider of pre-engineered steel construction solutions in India, offering integrated facilities for design and engineering, manufacturing, and on-site project management skills for the installation and erection of steel structures.

In the fiscal year 2024, the company's operating revenue climbed to 1,293.30 crore from 1,123.93 crore, while its profit after tax improved to 86.26 crore from 81.46 crore.

Interarch Building Products IPO subscription status

The strong response from non-institutional investors continued for Interarch Building Products IPO on the second day of bidding. The response from retail investors was fairly decent. Interarch Building Products IPO subscription status was 10.84 times, as per BSE data.

The portion for non-institutional investors fetched 30.82 times subscription, while the category for retail investors got subscribed 7.31 times. The quota for Qualified Institutional Buyers (QIBs) received 1.47 times subscription, and the employee portion was booked 11.75 times. 

On the first bidding day, the public issue was subscribed to 3.20 times, the retail portion of the book build issue was booked 2.76 times, the NII segment was subscribed 7.85 times, and the QIB portion was filled 0.27 times, as per BSE data.

Interarch Building Products IPO Review

Swastika Investment has given the book build issue a ‘subscribe’ tag, saying, “The brokerage claims that Interarch Building Products Limited, a provider of turnkey pre-engineered steel building solutions, has solidified its place in the industry. The company's wide client base, established execution skills, and integrated manufacturing operations equip it for sustained development. The firm has consistently expanded both top and bottom line, demonstrating strong financial success. However, there may be difficulties due to reliance on a small pool of outside vendors, lack of long-term contracts with clients, and high working capital needs.”

“Despite these factors, the company's IPO, valued at a P/E of 15.3x, appears attractively priced. Considering the company's market leadership, strong financial performance, and reasonable valuation, we recommend subscribing to the IPO,” the brokerage said.

 

Also Read | Interarch Building Products IPO: GMP, review, other details in 10 points

Giving a 'subscribe tag to the IPO, Parth Shah, Research Analyst, StoxBox, said, “The company’s extensive track record, domain expertise, established brand presence, and strong market position, combined with its integrated facilities for design and engineering, manufacturing, and on-site project management for the installation and erection of PEBs, provide a solid foundation for leveraging these growth opportunities. Interarch’s strong market position, integrated operations, and diverse customer base ensure cost-effective and timely project execution, positioning the company for success in the PEB industry. Thus, we recommend market participants subscribe to the issue from a medium to long-term perspective.”

Interarch Building IPO Details

An offer for sale (OFS) of up to 44.48 lakh shares by current promoters and shareholders is included in the offering, coupled with a fresh issuance of shares valued at 200 crore. According to the top pricing band, the OFS is worth about 400 crore.

The net proceeds of the new issuance will go toward general company objectives, technology enhancements, and capital expenditures.

The book running lead managers are Ambit Private Limited and Axis Capital Limited, while the offer registrar is Link Intime India Private Limited.

 

Also Read | Interarch Building IPO: Check out 10 key things from RHP before investing

Interarch Building Products IPO GMP today

Interarch Building IPO GMP today is +325. This indicates Interarch Building Products share price were trading at a premium of 325 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Interarch Building Products share price was indicated at 1,225 apiece, which is 36.11% higher than the IPO price of 900.

According to the latest grey market activities over the past 8 sessions, today's IPO GMP is on the rise and is anticipated to have a robust listing. Investorgain.com analysts report that the GMP ranges from 0 as the lowest to 395 as the highest.

'Grey market premium' indicates investors' readiness to pay more than the issue price.'

 

Interarch Building Products IPO details
Also Read | Interarch Building Products, Gala Precision Engineering get SEBI nod for IPOs

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.

 

Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

MoreLess
First Published:20 Aug 2024, 06:48 AM IST
Business NewsMarketsIPOInterarch Building Products IPO Day 2: GMP, subscription status, review, other details. Apply or not?

Most Active Stocks

Zee Entertainment Enterprises share price

128.45
01:16 PM | 29 NOV 2024
5.3 (4.3%)

Adani Power share price

558.50
01:16 PM | 29 NOV 2024
-1.7 (-0.3%)

Tata Steel share price

144.70
01:16 PM | 29 NOV 2024
1.25 (0.87%)

Indian Oil Corporation share price

137.80
01:16 PM | 29 NOV 2024
0 (0%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

Lloyds Metals & Energy share price

1,036.50
01:10 PM | 29 NOV 2024
68.05 (7.03%)

Praj Industries share price

841.90
01:11 PM | 29 NOV 2024
46 (5.78%)

Laurus Labs share price

562.00
01:11 PM | 29 NOV 2024
10.55 (1.91%)

Computer Age Management Services share price

4,967.00
01:11 PM | 29 NOV 2024
70.55 (1.44%)
More from 52 Week High

Creditaccess Grameen share price

904.00
01:11 PM | 29 NOV 2024
-82.95 (-8.4%)

Poonawalla Fincorp share price

350.65
01:10 PM | 29 NOV 2024
-22.95 (-6.14%)

Triveni Turbines share price

760.45
01:09 PM | 29 NOV 2024
-36.1 (-4.53%)

KPIT Technologies share price

1,359.20
01:10 PM | 29 NOV 2024
-51.5 (-3.65%)
More from Top Losers

Fertilizers & Chemicals Travan share price

976.15
01:11 PM | 29 NOV 2024
82 (9.17%)

Piramal Pharma share price

266.65
01:10 PM | 29 NOV 2024
21.05 (8.57%)

Lloyds Metals & Energy share price

1,036.50
01:10 PM | 29 NOV 2024
68.05 (7.03%)

Praj Industries share price

841.90
01:11 PM | 29 NOV 2024
46 (5.78%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    77,355.00-180.00
    Chennai
    77,361.00-180.00
    Delhi
    77,513.00-180.00
    Kolkata
    77,365.00-180.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.92/L-0.10
    Chennai
    100.80/L-0.10
    Kolkata
    104.95/L0.00
    New Delhi
    94.77/L0.00

    Popular in Markets

      HomeMarketsPremiumInstant LoanMint Shorts