Interarch Building Products Shares Debut with 44% Premium

New Delhi, Aug 26 (PTI) Shares of construction solutions provider Interarch Building Products Ltd on Monday listed with a premium of over 44 per cent against the issue price of Rs 900.

The stock made its debut at Rs 1,291.20, surging 43.46 per cent from the issue price on the BSE. It later zoomed 46.22 per cent to Rs 1,316.

At the NSE, it listed at Rs 1,299, a jump of 44.33 per cent.

The company's market valuation stood at Rs 2,031.80 crore.

The initial public offer of Interarch Building Products got subscribed a whopping 93.46 times on the last day of subscription on Wednesday.

The Rs 600-crore initial share sale had a price range for the offer at Rs 850-900 per share.

Proceeds from the fresh issue will be used for capital expenditures, system upgrades and general corporate purposes.

Interarch Building Products is one of the leading turnkey pre-engineered steel construction solution providers in India with integrated facilities for design and engineering, manufacturing and on-site project management capabilities for the installation and erection of pre-engineered steel buildings.