Interarch Building Products Limited, a key player in India’s pre-engineered steel building sector, has successfully launched its initial public offering (IPO), raising approximately $72 million. The company, known for its comprehensive steel building solutions, including design, manufacturing, and project management, saw its equity shares listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on August 26, 2024.
The IPO also featured a secondary offer, with OIH Mauritius Limited (Everstone Capital) selling equity shares worth $19.27 million. The offering was met with robust interest, being oversubscribed by over 66.90 times, with a special ₹20 million reservation for employees.
The legal intricacies of the transaction were deftly handled by Shardul Amarchand Mangaldas & Co., a leading law firm in India. The team, led by Partners Nikhil Naredi and Abhiroop Amitava Datta, with the support of counsel and associates, ensured the smooth execution of this significant financial milestone. Ambit Private Limited and Axis Capital Limited served as the Book Running Lead Managers for the IPO.
