The initial public offering (IPO) of Interarch Building Products Ltd has garnered significant attention from investors, leading to an oversubscription of the issue. As the allotment process for the Interarch Building Products IPO has been finalized, all eyes are now on the stock’s anticipated listing next week.
| Aspect | Details |
|---|
| IPO Allotment Date | August 22, 2024 |
| IPO Listing Date | August 26, 2024 |
| Price Band | ₹850 to ₹900 per share |
| Grey Market Premium (GMP) | ₹356 per share |
| Estimated Listing Price | Approximately ₹1,256 per share (based on GMP) |
| Lot Size | 16 shares |
| Potential Gain per Lot | ₹5,696 per lot (if listing in line with GMP) |
| Total Subscription | 93.53 times overall |
| Retail Category Subscription | 19.11 times |
| Qualified Institutional Buyers (QIBs) Subscription | 205.41 times |
| Non-Institutional Investors (NII) Subscription | 128.42 times |
| Total Amount Raised | ₹600.29 crore |
| Fresh Issue Amount | ₹200 crore (22.22 lakh equity shares) |
| Offer-for-Sale (OFS) Amount | ₹400.29 crore (44.47 lakh shares) |
| Book Running Lead Managers | Ambit Private Limited and Axis Capital |
| IPO Registrar | Link Intime India Private Ltd |
IPO Allotment and Listing Date
Interarch Building Products Ltd’s IPO, which launched its bidding process on August 19 and concluded on August 21, was met with a highly positive response. The IPO allotment was finalized on August 22, and the shares are set to be listed on August 26. Investors can check their allotment status on the Bombay Stock Exchange (BSE) website or through the IPO registrar, Link Intime India Private Ltd.
The company’s equity shares will be listed on both the BSE and the National Stock Exchange (NSE). As the listing date approaches, investors are closely monitoring the grey market for indications of how the stock might perform.
Grey Market Premium (GMP)
The grey market provides an unofficial yet insightful gauge of investor sentiment regarding the upcoming IPO listing. Currently, Interarch Building Products shares are trading at a premium in the unlisted market. According to market observers, the grey market premium (GMP) for Interarch Building Products IPO is ₹356 per share. This suggests that the shares are trading approximately ₹356 above their issue price, indicating potential gains of about 40% for investors.
Given this GMP, the estimated listing price for Interarch Building Products shares is projected to be around ₹1,256 per share. This valuation represents a 40% premium over the upper end of the IPO price band, which was set at ₹900 per share.
Investors who applied for a single lot of 16 shares in the IPO could see potential gains of approximately ₹5,696 if the listing price aligns with the current GMP. However, it’s essential to remember that the grey market premium is an indicative figure and should not be used as the sole basis for investment decisions.
IPO Pricing and Subscription Details
The IPO for Interarch Building Products Ltd was priced within a band of ₹850 to ₹900 per share. The issue was a combination of a fresh issue and an offer-for-sale (OFS). The fresh issue consisted of 22.22 lakh equity shares worth ₹200 crore, while the OFS component included 44.47 lakh shares totaling ₹400.29 crore. In total, the company aimed to raise ₹600.29 crore from the IPO.
The public offering saw remarkable interest from various investor categories:
- Overall Subscription: The IPO was subscribed 93.53 times, with bids for 42.88 crore equity shares received against the offered 46.91 lakh shares, according to NSE data.
- Retail Investors: The retail category was oversubscribed 19.11 times.
- Qualified Institutional Buyers (QIBs): This category saw a subscription rate of 205.41 times.
- Non-Institutional Investors (NIIs): The subscription rate for NIIs was 128.42 times.
Key Players in the IPO Process
The Interarch Building Products IPO was managed by Ambit Private Limited and Axis Capital as the book-running lead managers. Link Intime India Private Ltd served as the IPO registrar, overseeing the allotment and other administrative aspects of the public issue.
Company Background
Interarch Building Products Ltd specializes in providing innovative building solutions, offering a range of products and services to the construction industry. The company’s focus on quality and sustainability has positioned it as a prominent player in the building products sector.
What to Expect Ahead of the Listing
As Interarch Building Products Ltd prepares for its stock exchange debut, investors are advised to keep an eye on market trends and sentiment. The performance of the stock in the grey market and the overall market conditions will play a crucial role in determining the initial trading outcomes.
With the IPO being heavily oversubscribed and a substantial grey market premium, there is significant anticipation surrounding the stock’s performance. However, potential investors should exercise caution and make well-informed decisions based on thorough research and analysis.
Conclusion
The Interarch Building Products IPO has been a noteworthy event in the financial market, demonstrating strong investor interest and enthusiasm. As the listing date approaches, stakeholders are eagerly awaiting the debut of Interarch Building Products on the BSE and NSE. Investors should stay informed about market conditions and the performance of the stock to make strategic investment decisions.
For those interested in the latest updates on IPOs and stock market trends, following official announcements and consulting with financial experts can provide valuable insights.
FAQs: Interarch Building Products IPO
1. What is the IPO allotment date for Interarch Building Products?
The IPO allotment for Interarch Building Products was finalized on August 22, 2024.
2. When will Interarch Building Products shares be listed on the stock exchanges?
Interarch Building Products shares are scheduled to be listed on August 26, 2024.
3. Where can I check the IPO allotment status?
You can check your IPO allotment status on the Bombay Stock Exchange (BSE) website or through the IPO registrar, Link Intime India Private Ltd.
4. What is the Interarch Building Products IPO price band?
The price band for the Interarch Building Products IPO was set between ₹850 and ₹900 per share.
5. What is the grey market premium (GMP) for Interarch Building Products shares?
As of the latest update, the grey market premium (GMP) for Interarch Building Products shares is ₹356 per share, indicating a potential gain of approximately 40% over the issue price.
6. What is the estimated listing price of Interarch Building Products shares based on the GMP?
Based on the GMP of ₹356 and the issue price of ₹900 per share, the estimated listing price of Interarch Building Products shares is approximately ₹1,256 per share.
7. What is the lot size for the Interarch Building Products IPO?
The lot size for the Interarch Building Products IPO is 16 shares.
8. How much can investors potentially gain per lot based on the current GMP?
Investors who applied for one lot of Interarch Building Products shares could potentially gain ₹5,696 per lot if the stock lists in line with the current GMP.
9. How many times was the Interarch Building Products IPO subscribed?
The IPO was subscribed 93.53 times in total. Specifically, it was subscribed 19.11 times in the retail category, 205.41 times in the Qualified Institutional Buyers (QIBs) category, and 128.42 times in the Non-Institutional Investors (NII) category.
10. Who are the book running lead managers for the Interarch Building Products IPO?
Ambit Private Limited and Axis Capital are the book running lead managers for the Interarch Building Products IPO.
11. What is the total amount raised through the IPO?
The Interarch Building Products IPO raised a total of ₹600.29 crore, which includes a fresh issue of 22.22 lakh equity shares worth ₹200 crore and an offer-for-sale (OFS) component of 44.47 lakh shares aggregating to ₹400.29 crore.
12. What role does Link Intime India Private Ltd play in the IPO process?
Link Intime India Private Ltd is the IPO registrar for Interarch Building Products and is responsible for managing the allotment and other related processes.
13. What should investors keep in mind regarding the grey market premium?
The grey market premium is an indicative figure and should not be solely relied upon for making investment decisions. It reflects market sentiment but can be volatile and may not always predict actual listing performance.
14. What are the key dates for the Interarch Building Products IPO?
- IPO Bidding Dates: August 19 to August 21, 2024
- IPO Allotment Date: August 22, 2024
- IPO Listing Date: August 26, 2024
These FAQs should provide a comprehensive understanding of the Interarch Building Products IPO and help investors stay informed as they await the listing of the shares.
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