Interarch Building Products Limited’s IPO to open on August 19

Ahmedabad: Interarch Building Products Limited, has fixed the price band of Rs 850/- to Rs 900/- per Equity Share of face value Rs 10/- each for its maiden initial public offer. The Initial Public Offering of the Company will open on Monday, August 19, 2024, for subscription and close on Wednesday, August 21, 2024. Investors can bid for a minimum of 16 Equity Shares and in multiples of 16 Equity Shares thereafter, the company said.

As per the company, “The IPO consists of fresh issue of up to Rs 2,000 million and an offer for sale (OFS) of up to 44,47,630 equity shares by Promoter Selling Shareholders and Investor Selling Shareholder. The offer includes a reservation of Rs 2 crore for eligible employees and employee discount of Rs 85 per share.”

“The proceeds from the fresh issue, to the extent of Rs 585.26 million for financing the capital expenditure towards setting up the Project, Rs 192.46 million for financing the capital expenditure towards upgradation of the Kichha Manufacturing Facility, Tamil Nadu, Manufacturing Facility I, Tamil Nadu Manufacturing Facility II and Pantnagar Manufacturing Facility, Rs 109.71 million for funding investment in information technology assets for upgradation of existing information technology infrastructure of the Company, Rs 550 million for funding incremental working capital requirements and General corporate purposes,” the company said in an official statement.

The official statement also states that, “As of March 31, 2024, Interarch Building Products’ Order Book stood at Rs  11,532.90 million.”

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.