Interarch Building Products Ltd, a Noida-based leader in turnkey pre-engineered steel construction solutions, has announced a price band of Rs 850-900 per share for its upcoming initial public offering (IPO), which is set to open for subscription on August 19.
The anchor book will open on August 16, with the IPO closing on August 21.
The offering includes a fresh issue of shares worth Rs 200 crore, alongside an offer for sale (OFS) of up to 44.48 lakh shares by existing promoters and shareholders. The OFS is valued at approximately Rs 400 crore at the upper price band.
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The net proceeds from the fresh issue will be allocated to capital expenditures, system upgrades, and general corporate purposes.
For the fiscal year 2023, Interarch Building Products Ltd reported a 34.6% increase in revenue from operations, reaching Rs 1,123.93 crore, up from Rs 834.94 crore the previous year. This growth was driven by heightened revenue from pre-engineered building contracts and product sales, facilitated by an expanded sales and marketing presence in West Bengal and Telangana, and diversification into new sectors. Profit after tax surged by 375.54% to Rs 81.46 crore, compared to Rs 17.13 crore in the prior year.
For the six months ending September 30, 2023, revenue from operations was Rs 591.53 crore, with a profit after tax of Rs 34.57 crore. As of September 30, 2023, the company's order book stood at Rs 1,036.27 crore.
Ambit Private Limited and Axis Capital Limited serve as the book-running lead managers for the IPO.
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