The company has informed the exchanges that it has allotted 19,94,288 equity shares at Rs 900 per share on Friday to anchor investors.
Interarch is a turnkey prefabricated steel building solutions provider in India with integrated facilities for design and engineering, fabrication and on-site project management capabilities for installation and erection of prefabricated steel buildings (PEB).
The foreign and domestic institutions that 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 allotment of 19,94,288 equity shares to anchor investors, 7,16,592 were allotted to 3 domestic mutual funds through a total of 8 schemes for an amount of Rs 64.49 crore (approximately) i.e. 35.93% of the total portfolio size of anchor securities. Ambit Private Limited and Axis Capital Limited are the lead managers of the portfolio and Link Intime India Private Limited is the registrar for the offer. The equity shares are proposed to be listed on the 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 an employee discount of Rs 85 per share.
The company has priced the three-day IPO at Rs 850-900 per share. The IPO will fetch Rs 600.29 crore at the upper end of the price band.
Investors may bid for a minimum of 16 equity shares and thereafter in multiples of 16 equity shares.
The offering is being conducted through a book-building process, in which no more than 50% will be available to qualified institutional buyers, no less than 15% will be available for allocation to non-institutional bidders and no less than 35% will be available to retail individual bidders.
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