Interarch Building Products is scheduled to finalize the basis of allotment of its shares on Thursday, August 22. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate by Friday, August 23 or over the weekend. The IPO of PEB player had received a solid response from the investors.
The IPO of Interarch Building Products was open for bidding between August 19 and August 21. The company had offered its shares in the fixed price band of Rs 850-900 per share with a lot size of 16 shares. The company raised a total of Rs 600.29 crore from its IPO, which included a fresh share sale of up to Rs 200 rore and an offer-for-sale (OFS) up to 44,47,630 shares.
The issue was overall subscribed a total of solid 93.53 times, thanks to a strong push from qualified institutional bidders (QIBs), whose quota was booked 205.41 times. The quota for non-institutional investors was subscribed 128.42 times. The portions reserved for retail investors and employees saw bidding for 19.11 times and 24.19times during the bidding process.
Grey market premium (GMP) of Interach Building Products has seen a jumped sharply following the robust response to the issue from the investors. Last heard, the company was commanding a premium of Rs 365-370 per share, suggesting a listing pop of less than 40 per cent for the investors. However, it was around Rs 300 when the issue opened for bidding.
Incorporated in 1983, Interarch Building Products is a leading provider of turnkey pre-engineered steel construction solutions in India. The company offers integrated facilities for design, engineering, manufacturing, and on-site project management for the installation and erection of pre-engineered steel buildings (PEB).
Brokerages are mostly positive on the issue suggesting investors to subscribe to it for a long term. They are positive on its strong order book, improving financial performance, rising market share, robust capex and attractive financials. However, reliance on a limited number of suppliers, absence of long-term customer agreements, and high working capital are key concerns.
Ambit and Axis Capital are the book running lead managers of the Interarch Building Products IPO, while Link Intime India is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE with Monday, August 26 as the tentative date of listing at the bourses.
Investors, who had bid for the issue of Interarch Building Products, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Interarch Building Products Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit search button
Investors can also check the allotment status on the online portal of Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.
1) Go to the web portal of Link Intime Limited
2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.