MUMBAI, 13 AUGUST, 2024 (TGN): Noida based Construction Solutions Company Interarch Building Products Limited, a leading provider of turnkey pre-engineered steel construction solutions, has set a price band of Rs. 850-900 per share for its upcoming initial public offering (IPO), which will open for subscription on August 19.
The offering consists of a fresh issue of shares valued at Rs. 200 crore, along with an offer for sale (OFS) of up to 44.48 lakh shares by existing promoters and shareholders. The OFS is estimated to be worth around Rs. 400 crore at the upper price band.
Interarch Building Products plans to utilize the proceeds from the fresh issue to fund capital expenditures, system upgrades, and general corporate purposes. Of the total issue size, 50 per cent has been reserved for qualified institutional investors (QIIs), 35 per cent for retail investors, and the remaining 15 per cent for non-institutional investors. Investors can bid for a minimum of 16 equity shares and thereafter in multiples of 16 shares.
Talking to our news reporter Babita Prabhakar M. about the IPO Mr. Arvind Nanda, MD and Mr. Gautam Suri, Director of Interarch Building Products Limited said, Interarch Building Products IPO is a book built issue of Rs 600.29 crores.The issue is a combination of fresh issue of 0.22 crore shares aggregating to Rs 200.00 crores and offer for sale of 0.44 crore shares aggregating to Rs 400.29 crores.Interarch Building Products is a prominent turnkey pre-engineered steel construction solution provider in India, offering integrated services for design, engineering, manufacturing, and on-site project management for the installation and erection of pre-engineered steel buildings. The IPO marks a significant milestone for Interarch Building Products as it seeks to expand its market presence and enhance its service offerings through strategic investments and upgrades.
As of March 31, 2024, the company reported an order book worth over Rs 1,153 crore. During the fiscal year 2024, Interarch Building Products recorded revenue from operations amounting to Rs 1,293.30 crore, up from Rs 1,123.93 crore in the previous year primarily due to an increase in revenue generated from pre-engineered building contracts and sale of products by expanding its sales and marketing presence in West Bengal and Telangana and diversification into new sectors/ industries. The company’s profit after tax (PAT) increased to Rs 86.26 crore from Rs 81.46 crore during the same period.
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 both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
RHP: https://www.ambit.co/public/
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