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Interarch Building Products Shares Skyrocket on Debut, Opening 44% Above Issue Price

Interarch Building Products shares surged 44.33% on debut, opening at ₹1,299 on NSE and ₹1,291.20 on BSE, well above the ₹900 issue price and exceeding market expectations.
Interarch Building Products Shares Skyrocket on Debut, Opening 44% Above Issue Price

Interarch Building Products shares debuted strongly today with a 44.33% surge, opening at ₹1,299 on NSE and ₹1,291.20 on BSE, both significantly higher than the ₹900 issue price, surpassing market expectations. 

On the final bidding day, Interarch Building Products IPO was oversubscribed by 93.44 times. Qualified institutional buyers subscribed 205.41 times, non-institutional investors 128.34 times, retail investors 18.98 times, and the employee portion 23.90 times.

Interarch Building Products Limited is a top turnkey provider of pre-engineered steel solutions in India, ranking third in revenue and second in installed capacity. Specializing in diverse PEB projects, the company offers turnkey contracts, pre-engineered steel materials, and in-house manufacturing with a capacity of 141,000 MTPA. They also have design centers and expansion plans in Andhra Pradesh and Gujarat.

The objective of Interarch Building Products Limited IPO typically involves raising capital for various purposes such as funding expansion plans, enhancing technology, reducing debt, or general corporate needs. The funds were raised through a combination of a fresh issue of shares and an offer for sale for this IPO. 

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