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IPO News: The IPO of Interarch Building Products Limited is opening in the stock market today i.e. on Monday. The company has raised Rs 179.90 crore through anchor investors. The important thing is that the company has issued 19,14,288 shares to anchor investors at Rs 900 per share. It is a good thing that the grey market is getting a good response.
What is the price?
The company has fixed the price band of Interarch Building Products Limited IPO at Rs 850 to Rs 900. The company has created a lot of 16 shares. Due to which the retail investor will have to place a bet of at least Rs 14400. The company has given its employees a discount of Rs 85 on every share. Investors can place bets in this IPO from August 19 to August 22.
What is the IPO size?
The size of the IPO of Interarch Building Products Limited is Rs 600.29 crore. The company will issue 22 lakh shares under the fresh issue. So 44 crore shares will be issued under the offer for sale. The allotment of shares by the company will be done on August 22. Therefore, the company will go public in the stock market on August 26. The total stake of promoters in the company is 87 percent.
The company is in good condition in the grey market
According to the report of Investor Gate, the company's IPO is trading at a premium of Rs 325 today. If we look at the signals received from the gray market, the company's listing happened at Rs. 1200 can go beyond. If this happens, then the company's listing can be spectacular. Investors can earn a profit of 36 percent on the very first day.
