IPO A new IPO has opened today for those who invest in Interarch Building Products. Yes, the IPO of Interarch Building Products has opened for subscription on Friday. This IPO will close on Wednesday, 21 August. The company wants to raise Rs 600.29 crore through this IPO. Under the IPO, 22,22,222 new shares worth Rs 200 crore will be issued and 44,47,630 shares worth Rs 400.29 crore will be issued by the company’s promoters through OFS.
The company has fixed a price band of Rs 850-900 for each share
Interarch Building Products has fixed a price band of Rs 850 to Rs 900 per share for its IPO. Employees of the company will be given a discount of Rs 85 on each share. Retail investors who want to apply for this IPO will have to invest at least Rs 14,400. In this amount, they will be given 16 shares in one lot.
Shares may be listed on BSE and NSE on August 26
The IPO will close on August 21, after which the allotment of shares can be done on August 22. The next day, on August 23, the shares can be credited to the demat accounts of the investors. The company will be listed on both BSE and NSE, the listing of shares can happen on August 26.
The GMP price of the company’s shares gained momentum
The company’s IPO seems to be getting very good support in the grey market. According to websites tracking the grey market premium of shares under the IPO, Interarch Building Products shares are trading with a premium of around Rs 325 (36.11 per cent). That is, the company’s shares are trading with a GMP of Rs 325 on the opening day of the IPO itself.
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