Interarch submitted a draft prospectus to SEBI on March 18, 2024. The company stated that it could think about a private placement of equity shares totaling ₹40 crore as a ‘pre-IPO placement’. If this is done, the amount assigned to the fresh issue will be reduced.
The offering structure for Interarch’s IPO assigns a maximum of 50% of shares to qualified institutional buyers (QIBs), with at least 15% reserved for non-institutional bidders and a minimum of 35% reserved for retail investors.
The Rs 58.53 crore raised through the public offering will be utilized for spending on capital, such as expanding the company’s manufacturing facilities in Tamil Nadu and Uttarakhand’s Kichha and Pantnagar. Additionally, Rs 10.97 crore will be allocated to enhance and invest in the company’s information technology assets. The order book for Interarch Building Products was valued at Rs 1,036.27 crore on September 30, 2023.
Arvind Nanda, Gautam Suri, Ishaan Suri, and Shobhna Suri are the promoters, and they offer their stake in Interarch Building Products. In order to raise additional money from the public markets, OIH Mauritius Limited is also selling a stake as an investor. Ambit Private Limited and Axis Capital Limited are the bookrunners for the Interarch Building Products IPO.
