Interarch Building Products share price made a bumper debut on the bourses today. On NSE, Interarch Building Products share price opened at ₹1,299 per share, 44.33% higher than the issue price of ₹900. On BSE, Interarch Building Products share price today opened at ₹1,291.20 apiece, up 43.47% than the issue price.
Market experts anticipated Interarch Building Products share price to open in the range of ₹1,260 to ₹1,280 apiece.
On the last day of bidding, Interarch Building Products IPO subscription status was 93.44 times. The proportion of qualified institutional buyers was subscribed 205.41 times, while the portion for non-institutional investors was subscribed 128.34 times. Retail portion was subscribed to 18.98 times, while employee portion was subscribed 23.90 times.
Interarch Building Products Ltd, located in Noida, is a leading provider of comprehensive pre-engineered steel construction solutions. The company entered the Indian primary market on 19 August 2024 and closed its IPO bidding on 21 August 2024. With a share price band set between ₹850 and ₹900, the company successfully raised ₹179.49 crore from anchor investors on Friday, August 23.
Thirty-five percent of the issue size was allocated to retail investors, fifty percent to qualified institutional investors, and the remaining fifteen percent to non-institutional investors.
Investors could place bids in multiples of 16 equity shares, starting from a minimum of 16 equity shares.
The offering comprises an offer for sale (OFS) of a maximum of 44.48 lakh shares by existing promoters and shareholders, along with a fresh issue of shares amounting to ₹200 crore. At the highest pricing band, the OFS is valued at approximately ₹400 crore.
The proceeds from the new issuance will be allocated to general corporate purposes, technological improvements, and capital expenses.
The book running lead managers are Ambit Private Limited and Axis Capital Limited, while the offer registrar is Link Intime India Private Limited.
Interarch Building IPO GMP today is +320. This indicates Interarch Building Products share price were trading at a premium of ₹320 in the grey market, according to investorgain.com.
Based on the upper end of the IPO price band and the current premium in the grey market, the expected listing price of Interarch Building Products share was projected at ₹1,220 per share, marking a 35.56% increase from the IPO price of ₹900.
According to recent grey market trends spanning 15 sessions, today's IPO GMP is climbing and is expected to result in a strong listing. Analysts at Investorgain.com note that the GMP ranges from ₹0 to ₹395.
The 'grey market premium' reflects investors' willingness to pay a price exceeding the issue price.
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