Interarch Building IPO subscribed 10.83x on day-2

New Delhi: The initial public offer of construction solutions provider Interarch Building Products received 10.83 times subscription on day two of bidding on Tuesday.

The Rs600 crore initial share sale got bids for 5,08,30,992 shares against 46,91,585 shares on offer, as per NSE data. The portion for non-institutional investors fetched 30.81 times subscription while the quota for retail individual investors (RIIs) got subscribed 7.30 times. The qualified institutional buyers (QIBs) part received 1.47 times the subscription. The initial public offer (IPO) has a fresh issue of up to Rs200 crore and an offer for sale of up to 44,47,630 equity shares. The price range for the offer is fixed at Rs850-900 per share.

The initial public offer of Interarch Building Products was fully subscribed on the first day of subscription on Monday. The initial share sale will conclude on August 21.