Aug 19, 2024
By: Sourabh Jain
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Noida-based Interarch Building Products’s initial public offering (IPO) is now open and will close on Wednesday, August 21.
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Interarch Building Products has fixed a price band of ₹850-₹900 per share for its public issue.
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Interarch Building Products is a Noida-based turnkey pre-engineered steel construction solutions provider in India.
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Interarch Building Products is looking to raise ₹600.29 crore from the current IPO. This includes a fresh issue of ₹200 crore and an offer for sale (OFS) component of ₹400.29 crore.
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Investors can bid for a minimum of 16 shares and in multiples of 16 shares thereafter.
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The company, founded in 1983 currently has four manufacturing facilities, including two in Tamil Nadu and two in Uttarakhand. The company had the second-highest installed capacity of 141,000 metric tonnes per year as of March 31, 2023.
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The company’s income was ₹1,306.32 crore in FY24, up from ₹1,136.39 crore in FY23. The company reported a profit of ₹86.26 crore in FY24, up from ₹81.46 crore profit reported in FY23.
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The company is dependent on a number of third-party suppliers for its raw materials. Any disruption in this supply may have an adverse impact on its business. The underutilisation of its manufacturing facilities may also have an adverse impact.
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The funds from the issue will be used for financing capital expenditures, investment in IT assets, working capital requirements and general corporate purposes.
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