The company has informed exchanges that it has allocated 19,94,288 equity shares at Rs 900 per share on Friday to anchor investors.
Interarch is a turnkey pre-engineered steel construction solution providers in India with integrated facilities for design and engineering, manufacturing, and on-site project management capabilities for installation and erection of pre-engineered steel buildings (PEB),
Foreign and domestic institutions who participated in the anchor were ICICI Prudential MF, Whiteoak Capital MF, Mirae Asset MF, 3P India MF, Pinebridge Global Funds, LC Pharos MF, SBI General Insurance, Eastspring Investment India, Bajaj Allianz Insurance Company, Chartered Finance & Leasing Ltd, Bengal Finance and Investment, Aryabhata MF, Carnelian Capital Compounder Fund, Societe Generale, and Subhkam Ventures (I) Pvt. Ltd.
Of the total allocation of 19,94,288 equity shares to the anchor investors, 7,16,592 were allocated to 3 domestic mutual funds through a total of 8 schemes amounting to Rs. 64.49 crore (approx.) i.e. 35.93% of the total anchor book size.Ambit Private Limited, and Axis Capital Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.
Interarch Building Products IPO Details
The IPO consists of a fresh issue of up to Rs 200 crore and an offer for sale (OFS) of up to 44,47,630 equity shares by promoter selling shareholders and investor selling shareholders. The offer includes a reservation of Rs 2 crore for eligible employees and employee discount of Rs 85 per share.
The company has set the price band for the three-day offer at Rs 850 – Rs 900 per equity share. The IPO will fetch Rs 600.29 crore at the upper end of the price band.
Investors can bid for a minimum of 16 equity shares and in multiples of 16 equity shares thereafter.
The offer is being made through the book building process, wherein not more than 50% shall be available for qualified institutional buyers, not less than 15% shall be available for allocation to non-institutional bidders and not less than 35% shall be available for retail individual bidders.
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