Interarch Building Products' IPO Sees Stellar Demand with 93.46 Times Subscription

Interarch Building Products' IPO was massively over-subscribed at 93.46 times on the final subscription day. The Rs 600-crore issue included a fresh issue of Rs 200 crore and an offer for sale of over 44 lakh shares. The funds will be used for capital expenditures and system upgrades.

Interarch Building Products' initial public offering (IPO) witnessed an extraordinary demand, being subscribed 93.46 times on the final day of the offer on Wednesday.

According to NSE data, the Rs 600-crore IPO received bids for 43,87,96,464 shares against the 46,91,585 shares that were on offer.

Notably, the portion reserved for Qualified Institutional Buyers (QIBs) was oversubscribed by 205.41 times, while Non-Institutional Investors (NIIs) bid 128.42 times over their allocation. Retail Individual Investors (RIIs) also showed significant interest with a subscription of 19.11 times their portion.

(With inputs from agencies.)