Interarch Building Products is coming soon with IPO
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Interarch Building Products IPO: IPO buzz still continues in the Indian stock market. IPO is getting better response from investors. Now it is being told that Interarch, a steel construction solution provider company related to the construction sector, is coming up with an IPO to raise funds from the building product market. For this the company has submitted its documents to SEBI. According to the Draft Red Herring Prospectus (DRHP), this IPO with a face value of Rs 10 per equity share will have a fresh issue of up to ₹ 200 crore. However, some shares will also be issued under offer for sale. The company is also trying to collect Rs 40 crore through pre-IPO placement. This will reduce the size of the IPO.
Who is selling his stake?
According to the Draft Red Herring Prospectus (DRHP), the offer for sale involves sale of up to 7.20 lakh equity shares by Arvind Nanda, 7.90 lakh shares by Gautam Suri, 5.40 lakh shares by Ishaan Suri and 6 lakh shares by Shobhana Suri. Will go. Whereas, 10 lakh shares will also be sold by OIH Mauritius Limited. Along with this, reservation in membership is also going to be given to the employees of the company who have applied for IPO.
Also Read: Before Holi, this government bank gave a gift to its customers, reduced the interest compared to SBI and HDFC.
What will the company do with the money?
The company is going to collect money from the market and spend it on various purposes. The company has said that out of the Rs 58.53 crore received from the fresh issue, it will spend Rs 19.25 crore for the upgradation of Kichha Manufacturing Facilities, Pantnagar Manufacturing Facilities and Tamil Nadu Manufacturing. Whereas, the company will spend Rs 10.97 crore on its infra. The company plans to allocate around Rs 55 crore for capital needs and general corporate work.
,Disclaimer: Investing in stock market or IPO is subject to market risk. Before investing in any share, get complete information from a good financial advisor. We are not encouraging investment in any company.,
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