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19 Nov 2024
Interarch Building Products is set to launch its initial public offering (IPO) next week and has set the price band for the shares at ₹850-900 each.
The IPO will include a fresh issue of shares valued at ₹200 crore, alongside an offer-for-sale (OFS) of up to 44.48 lakh shares.
If the shares are priced at the upper limit of the band, the OFS could generate around ₹400 crore, bringing the total IPO size to approximately ₹600 crore.
Interarch Building Products, a Noida-based company known for its turnkey pre-engineered steel construction solutions, will open its IPO on Monday, August 19, with the subscription closing on Wednesday, August 21. The company plans to secure funds through an anchor book round on August 16, just before the IPO starts.
Ambit Private Limited and Axis Capital Limited will serve as the book-running lead managers for the IPO.
Interarch Building plans to utilize the net proceeds from the fresh issue for general corporate expenses, system enhancements, and capital projects.
In the first half of FY24, ending September 30, 2023, Interarch Building reported a net profit of ₹34.57 crore, with revenue from operations totaling ₹591.53 crore. The company’s order book was valued at ₹1,036.27 crore as of that date.
For the entire fiscal year ending March 31, 2023, the company recorded a 34.6% increase in revenue from operations, reaching ₹1,123.93 crore, compared to ₹834.94 crore in FY22. The net profit surged nearly four times, growing to ₹81.46 crore from ₹17.13 crore in the previous fiscal year.
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