Noida-based Interarch Building Products Ltd, engaged in turnkey pre-engineered steel construction solutions, said the IPO price band would be ₹850 to ₹900 per share. The IPO will open for subscription on August 19. It also announced that the anchor book opens on August 16 and will close on August 21.
The IPO would comprise a fresh issue of shares worth ₹200 crore and an offer for sale of up to 44.48 lakh shares by the existing promoters and shareholders. At the upper end of the price band, OFS is valued at around ₹400 crore.
The net proceeds from the fresh issue are to be used for capital expenditures, system upgrades, and general corporate purposes. Interarch has posted a high rise of 34.6% in revenue from operations at ₹1,123.93 crore for the fiscal year 2023, against ₹834.94 crore in the previous year. Increased revenues from contracts for pre-engineered buildings supported the growth substantially, along with sales from products as its presence in West Bengal and Telangana got a boost.
Profit after tax of the company surged by 375.54% to ₹81.46 crore compared with ₹17.13 crore in the previous year.
For the six months ending September 30, 2023, Interarch’s revenue from operations was ₹591.53 crore, with a profit after tax of ₹34.57 crore. As of September 30, 2023, the company’s order book stood at ₹1,036.27 crore. Ambit Private Limited and Axis Capital Limited are the Book Running Lead Managers to the IPO.
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Source: Moneycontrol
News Desk
