2 min read Last Updated : Aug 26 2024 | 10:12 AM IST
Interarch Building Products IPO listing today: Interarch Building Products, a provider of turnkey pre-engineered steel construction solutions, made a stellar debut on the stock market on Monday, driven by positive market sentiment.
The company’s shares were listed at Rs 1,291 on the BSE, marking a 43.46 per cent premium over the upper end of its issue price of Rs 900.
On the NSE, Interarch Building Products shares opened at Rs 1,299, reflecting a 44.43 per cent premium. As a result, investors saw a return of Rs 399 per share, or over 44 per cent, post-listing.
Ahead of its debut on the stock exchanges, Interarch Building Products’ shares were trading at a premium of Rs 320, or 35.56 per cent, in the grey market, signaling a strong listing gains for investors.
The public issue, which closed on Wednesday, August 21, 2024, received favourable reviews from brokerage firms including Reliance Securities, Deven Choksey Research, SBI Securities, and Swastika Investmart.
The IPO was offered at a price band of Rs 850-900 per share, with a lot size of 16 shares. It comprised a fresh issue of 2,222,222 shares, aggregating up to Rs 200 crore, along with an offer for sale where the company’s promoters and investors offloaded 4,447,630 equity shares with a face value of Rs 10 per share. The basis of allotment for Interarch Building Products IPO shares was finalised on Thursday, August 22, 2024.
Interarch Building Products Limited is one of India’s leading providers of turnkey pre-engineered steel construction solutions, offering integrated facilities for design and engineering, manufacturing, and onsite project management for the installation and erection of pre-engineered steel buildings.
Interarch Building Products, in its Red Herring Prospectus (RHP) papers, stated that its revenue from operations grew from Rs 834.94 crore in FY22 to Rs 1,293.30 crore in FY24, achieving a Compound Annual Growth Rate (CAGR) of 24.46 per cent per cent. Additionally, the company’s profit after tax (PAT) rose from Rs 17.13 crore in FY22 to Rs 81.46 crore in FY23, and further to Rs 86.26 crore in FY24.
First Published: Aug 26 2024 | 10:08 AM IST
https://www.business-standard.com/markets/news/interarch-building-products-shares-list-at-over-43-premium-on-bse-nse-124082600131_1.html
