New Delhi: Shares of Interarch Building Products Ltd debuted on Monday with a premium of more than 44 percent compared to the issue price of Rs 900. The stock premiered on the BSE at Rs 1,291.20, marking a 43.46 percent increase from the issue price. It later surged by 46.22 percent to reach Rs 1,316. The stock also made its debut at the NSE with a listing price of Rs 1,299, marking a significant increase of 44.33 percent.
The company was valued at Rs 2,031.80 crore in the market. Interarch Building Products' initial public offering was oversubscribed at a remarkable rate of 93.46 times on the final day of subscription on Wednesday. The initial public offering, worth Rs 600 crore, had a share price range of Rs 850-900. The funds raised from the new issuance will be allocated towards capital expenses, upgrading systems, and general company objectives.
Interarch Building Products is a leading provider in India of complete pre-engineered steel construction solutions, offering design, engineering, manufacturing, and on-site project management services for the installation of pre-engineered steel buildings.
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