Khaitan & Co Advised Book Running Lead Managers On Interarch Building Products IPO
Khaitan & Co Advised Book Running Lead Managers On Interarch Building Products IPO
Khaitan & Co advised the Book Running Lead Managers, Ambit and Axis Capital, on the IPO of Interarch Building Products Ltd., a provider of turnkey pre-engineered steel construction solutions. The IPO comprised a fresh issue of equity shares and an offer for sale by certain existing shareholders, aggregating to INR 6,002 million.
The bidding for Interarch Building Products' IPO began on August 19, 2024, and concluded on August 21, 2024. The allotment was finalized on Thursday, August 22, 2024, with the shares subsequently listed on BSE and NSE on August 26, 2024.
The IPO price band was set at ₹850 to ₹900 per share, with a minimum application lot size of 16 shares. Retail investors required a minimum investment of ₹14,400. For sNII (Small Non-Institutional Investors), the minimum lot size was 14 lots (224 shares), amounting to ₹201,600, while for bNII (Big Non-Institutional Investors), it was 70 lots (1,120 shares), amounting to ₹1,008,000.
The issue included a reservation of up to 24,539 shares for employees, offered at a discount of ₹85 to the issue price.
Link Intime India Private Ltd. acted as the registrar for the IPO.
The Khaitan & Co deal team included Partner Aditya George Cheriyan, Principal Associate Vijayaraghavan Raman, and Associates Ritika Khare, Abhishek Iyer, Bhavna Sancheti, Arjun Kapur, and Ria Chaudhary.
