Interarch Building Products Limited made a remarkable debut on Dalal Street, with its shares listing at a 44% premium on the National Stock Exchange (NSE).
The shares opened at ₹1,299 on the NSE, reflecting a 44.33% increase over the issue price of ₹900. Similarly, on the BSE, the shares debuted at ₹1,291.20, marking a 43.47% premium.
Shivani Nyati, Head of Wealth at Swastika Investmart Ltd, attributed the strong performance to the company’s well-established market presence, integrated manufacturing capabilities, and steady financial growth.
The IPO received an overwhelming response, with a subscription rate of 93.79 times, signaling robust investor demand and confidence in Interarch Building Products’ growth potential. Nyati advised long-term investors to hold the stock with a stop-loss at ₹1,200, given its promising outlook.
The IPO, which closed on August 21, 2024, saw a total of 4,653,341 shares offered but received bids for an impressive 43,87,55,568 shares. The retail portion was subscribed 19.46 times, while the QIB and NII categories recorded subscriptions of 197.29 times and 130.91 times, respectively.
Founded in 1983, Interarch Building Products is a leading provider of turnkey pre-engineered steel construction solutions in India, offering a comprehensive range of services, including design, engineering, manufacturing, and on-site project management for the erection of pre-engineered steel buildings (PEB).
