Interarch Building Products IPO Launches Today

Today marks the beginning of a much-anticipated initial public offering (IPO) for Interarch Building Products, a leading provider of pre-engineered steel construction solutions. The IPO opens its three-day subscription window for investors to start bidding.

The company aims to raise approximately Rs 600.29 crore through this IPO. Interarch is offering a fresh issue of around 2.22 million shares and also includes an offer for sale where the company’s promoters and investors are looking to offload about 4.45 million equity shares.

Shares for the IPO are priced between Rs 850 and Rs 900 per share, with a minimum lot size of 16 shares for retail investors. This means anyone looking to invest will need at least Rs 14,400 to participate.

Several prominent brokerage firms have shared their insights regarding the IPO. For instance, Reliance Securities is recommending that investors subscribe, citing the company’s strong market position and growth potential in the burgeoning construction sector.

Deven Choksey Research is also on board with a ‘subscribe’ rating, highlighting the company’s impressive financial performance and strong order book. They noted Interarch’s revenue growth and profitability, with significant increases observed over the past years.

SBI Securities added their endorsement, indicating that the stock appears fairly valued compared to similar companies, and recommending it for long-term investments. Meanwhile, Swastika Investmart has praised Interarch for its market leadership and consistent growth.

For those interested in the financial metrics, the revenue for Interarch Building Products jumped from Rs 834.94 crore in FY22 to Rs 1,293.30 crore in FY24, showing a solid growth trajectory.

The allocation of shares for this exciting IPO is expected to be finalized on August 22, 2024, with shares credited to investors’ demat accounts by August 23. Investors can look forward to seeing the company’s shares listed on major exchanges like BSE and NSE.