IPO: Interarch Building will launch its IPO today, and the stock market will be on fire

IPO: Interarc Building Products, a big name in pre-engineered steel construction, is going public on August 19. The company is targeting its share price in the range of Rs.850 to Rs.900. The IPO will be completed by August 21. There is also a special slot for anchor investors on August 16. After the completion of the IPO, the company's shares will start trading on BSE and NSE from August 26. The company's IPO includes new shares worth Rs 200 crore and an offer for sale of 44.48 lakh shares from existing promoters and shareholders. Its high price is estimated to be around 400 crore rupees. The company plans to use the funds raised from the new shares for capital expenditures, system upgrades, working capital and general business needs. This company is famous in the market and offers many types of services. This includes on-site project management for the design, engineering, construction and installation of pre-engineered steel buildings. The key people behind the company are Arvind Nanda, Gautam Suri, Ishana Suri and Viraj Nanda who hold 87.53% stake in it. For the IPO, 50% of the shares are reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors. Ambiente Private Limited and Axis Capital Limited are managing the book-running for the Interarch Building Products IPO, while Link Intime India is handling the duties of registrar. Also Read: Hindenburg report creates a buzz in the stock market, Sensex scores 692.89 points, Interarch Building Products is better this year. Their operating revenue rose 34.6% to Rs 1,123.93 crore in FY23 from Rs 834.94 crore last year and Rs. The rise has mainly come from higher revenues from pre-engineered building contracts and product sales, expansion of their sales and marketing efforts in West Bengal and Telangana. Apart from this, the company's net profit reached Rs 81.46 crore in FY23 with a huge increase of 375.54%. Also Read: Banking: Be careful while using your check book, otherwise you may lose, Interarc Building will launch its IPO today, stock market will be on fire.