Shares of Interarch Building Products saw a robust stock market debut on August 26 after listing at Rs 1,299 apiece, a premium of 44.3 percent over the issue price of Rs 900.
The listing gains top grey market estimates where shares were trading at a premium of 35.5 percent. The grey market is an unofficial ecosystem where shares start trading much before the offer opens for subscription and continue to trade till the listing day.
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Interarch Building Products' IPO garnered overwhelming interest, with a subscription rate of 93.53 times on the final day of bidding. Investors from all categories snapped up 43.88 crore equity shares, significantly surpassing the offer size of 46.91 lakh shares.
Qualified institutional investors led the charge in Interarch Building Products' IPO, subscribing 205.41 times the portion allocated for them. High-net-worth individuals followed, purchasing 128.42 times their allotted quota, while retail investors subscribed 19.11 times their reserved portion.
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Employees also demonstrated strong interest, bidding 24.19 times their quota. The company has set aside Rs 2 crore worth of equity shares for employees, offering them at a discount of Rs 85 per share to the final issue price.
The company, which specialises in pre-engineered buildings (PEBs), provides two primary services: turnkey PEB contracts, managing everything from design to on-site installation, and the sale of PEB products such as metal ceilings, corrugated roofing, steel structures, and light gauge framing systems.
Interarch aims to raise Rs 200 crore through a fresh issue and an additional Rs 400.29 crore via an offer-for-sale (OFS), with shares priced between Rs 850-900.
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