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Interarch Building Products Limited IPO And Its GMP
Interarch Building Products Limited is one of the leading turnkey pre-engineered steel construction solution providers in India with integrated facilities for design and engineering, manufacturing and on-site project management capabilities for the installation and erection of pre-engineered steel buildings (“PEB”). They were ranked third in terms of operating revenue from PEB business in the Financial Year 2023 among integrated PEB players in India.
Their Company further had the second largest aggregate installed capacity of 141,000 metric tonnes per annum (“MTPA”) as of March 31, 2023 and a market share of 6.1% in terms of operating income in Financial Year 2023 among integrated PEB players in India. Their PEB offerings are designed, engineered and fabricated by them to customer requirements and find use in construction for industrial, infrastructure and building (residential, commercial and non-commercial) end-use applications. They have delivered PEBs for projects ranging from multi-level warehouses for customers engaged in e-commerce to paint production lines for customers engaged in manufacturing of paints and the fast-moving consumer goods (“FMCG”) sector for setting up manufacturing units for manufacturing their products.
Issue Size: Rs 600.29 crores
Type of Issue: Combination of fresh issue and offer for sale
- Fresh Issue: 0.22 crore shares worth Rs 200.00 crores
- Offer for Sale: 0.44 crore shares worth Rs 400.29 crores
Price Band: ₹850 to ₹900 per share
Subscription Period: August 19, 2024 - August 21, 2024
Minimum Lot Size: 16 shares
Book Running Lead Managers: Ambit Private Limited and Axis Capital Limited
Registrar: Link Intime India Private Ltd
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Interarch Building Products Limited IPO And Its GMP GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 2024-08-25 | 900 | 337.0 (37%) | 2024-08-25 |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Interarch Building Products Limited IPO And Its GMP Details
| Detail | Description |
|---|---|
| IPO Date | August 19, 2024 to August 21, 2024 |
| Listing Date | - |
| Face Value | ₹10 per share |
| Price Band | ₹850 to ₹900 per share |
| Lot Size | 16 Shares |
| Total Issue Size | 6,669,852 shares (aggregating up to ₹600.29 Cr) |
| Fresh Issue | 2,222,222 shares (aggregating up to ₹200.00 Cr) |
| Offer for Sale | 4,447,630 shares of ₹10 (aggregating up to ₹400.29 Cr) |
| Employee Discount | Rs 85 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 14,415,892 |
| Shareholding post issue | 16,638,114 |
Interarch Building Products Limited IPO And Its GMP Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Monday, August 19, 2024 |
| IPO Close Date | Wednesday, August 21, 2024 |
| Basis of Allotment | Thursday, August 22, 2024 |
| Initiation of Refunds | Friday, August 23, 2024 |
| Credit of Shares to Demat | Friday, August 23, 2024 |
| Listing Date | Monday, August 26, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 21, 2024 |
Interarch Building Products Limited IPO And Its GMP Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 16 | ₹14,400 |
| Retail (Max) | 13 | 208 | ₹187,200 |
| S-HNI (Min) | 14 | 224 | ₹201,600 |
| S-HNI (Max) | 69 | 1104 | ₹993,600 |
| B-HNI (Min) | 70 | 1120 | ₹1,008,000 |
Interarch Building Products IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Interarch Building Products Limited IPO And Its GMP Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| 87.53% | - |
Forcas Studio IPO Anchor Investors Details
| Bid Date | August 16, 2024 |
| Shares Offered | 1,994,288 |
| Anchor Portion Size (In Cr.) | 179.49 |
| Anchor lock-in period end date for 50% shares (30 Days) | September 21, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | November 20, 2024 |
Company & Financials
Incorporated in 1983, Interarch Building Limited provides 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). As of March 31, 2023, the company had the second-highest installed capacity of 141,000 metric tonnes per year. In the financial year 2023, it also held a 6.1% market share in operating income among integrated PEB players in India. The company offers PEBs through pre-engineered steel building contracts ("PEB Contracts") and the sale of pre-engineered steel building materials ("PEB Sales"), including metal ceilings, corrugated roofing, PEB steel structures and light gauge framing systems. The company's industrial/manufacturing construction category customers include Grasim Industries Limited, Berger Paints India Limited, Blue Star Climatech Limited, Timken India Limited and Addverb Technologies Limited. In the infrastructure construction category, the company serves InstaKart Services Private Limited. The company has four manufacturing facilities out of which two are situated in Sriperumbudur, Tamil Nadu, India, one in Pantnagar, Uttarakhand and one in Kichha, Uttarakhand, India.
Competitive Strength:
- -
Interarch Building Products Limited IPO And Its GMP Financial Information
| Period Ended | Assets | Total Income | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing | ||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2024 | 755.01 | 1,306.32 | 86.26 | 262.65 | - | 3.36 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 675.03 | 1,136.39 | 81.46 | 343.8 | - | 11.38 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2022 | 543.75 | 840.86 | 17.13 | 262.65 | - | 3.36 | ||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 19.40% |
| ROCE | 25.79% |
| Debt/Equity | -0.11 |
| RoNW | 22.26% |
| P/BV | - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 59.84 | 51.85 |
| P/E (x) | 15.04 | 17.36 |
Objectives of Interarch Building Products IPO
The company proposes to utilize the Net Proceeds towards funding the following objectives:
- 1. Financing the capital expenditure towards setting up a new PEB manufacturing unit (classified as Phase 2 of the capacity development plan at the Planned Andhra Pradesh Manufacturing Facility).
- 2. Financing the capital expenditure towards the upgradation of the Kichha Manufacturing Facility, Tamil Nadu Manufacturing Facility I, Tamil Nadu Manufacturing Facility II and Pantnagar Manufacturing Facility.
- 3. Funding investment in information technology (“IT”) assets for upgrading the company's existing information technology infrastructure.
- 4. Funding incremental working capital requirements.
- 5. General Corporate Purposes.
Interarch Building Products IPO Review
The company enjoys the most preferred PEB contractor status and is getting regular orders for new projects. It posted growth in its top and bottom lines. It has orders worth Rs. 1100 cr. on hand as of April 01, 2024. Based on FY24 earnings, the issue appears fully priced. Investors may park funds for the medium to long term.
RHP:
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Frequently Asked Questions (FAQs)
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What is the Interarch Building Products IPO?
Interarch Building Products IPO is a main-board IPO. They are going to raise ₹600.29 Crores via IPO. The issue is priced at ₹850 to ₹900 per equity share. The IPO is to be listed on BSE & NSE.
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When will the Interarch Building Products IPO open?
The IPO is to open on August 19, 2024 for QIB, NII, and Retail Investors.
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What is the Interarch Building Products IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
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What is Interarch Building Products IPO Size?
Interarch Building Products IPO size is ₹600.29 crores.
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What is the Interarch Building Products IPO Price Band?
Interarch Building Products IPO Price Band is ₹850 to ₹900.
