Interarch Building Products IPO opens today: Should you subscribe?
The Rs 600.29 crore IPO of Interarch Building Products company includes a fresh share sale of Rs 200 crore and an offer-for-sale (OFS) of up to 44,47,630 equity shares.
- Aug 19, 2024,
- Updated Aug 19, 2024 10:35 AM IST
The initial public offering (IPO) of Interarch Building Products kicks-off for bidding on Monday, August 19. The company holds its shares in the fixed price band of Rs 850-900 per share, where the investors can bid for a minimum of 16 equity shares and its multiples thereafter. The issue will close for the bidding on Wednesday, August 21. Interarch Building is valued at FY24 P/E multiple of 17.4 times at the upper price band based on post issue capital. The company is raising funds to set up a new manufacturing facility, invest in upgrading existing manufacturing facilities, upgrade IT assets, and fund its working capital requirements, said SBI Securities.
"The PEB market in India is expected to grow at a CAGR of 11- 12 per cent, reaching Rs 33,000-34,000 crore between FY24 and FY29. While comparing the IPO with peer companies, the stock appears to be fairly valued across different valuation and financial parameters. We recommend subscribing to the issue for a long-term investment horizon," it said.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
The initial public offering (IPO) of Interarch Building Products kicks-off for bidding on Monday, August 19. The company holds its shares in the fixed price band of Rs 850-900 per share, where the investors can bid for a minimum of 16 equity shares and its multiples thereafter. The issue will close for the bidding on Wednesday, August 21. Interarch Building is valued at FY24 P/E multiple of 17.4 times at the upper price band based on post issue capital. The company is raising funds to set up a new manufacturing facility, invest in upgrading existing manufacturing facilities, upgrade IT assets, and fund its working capital requirements, said SBI Securities.
"The PEB market in India is expected to grow at a CAGR of 11- 12 per cent, reaching Rs 33,000-34,000 crore between FY24 and FY29. While comparing the IPO with peer companies, the stock appears to be fairly valued across different valuation and financial parameters. We recommend subscribing to the issue for a long-term investment horizon," it said.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.