Interarch Building Products Listing : The IPO of Interarch Building Products Limited, a company engaged in the design, construction and sale of pre-engineered steel buildings, has come in the list of the most successful IPOs of the year 2024. The company’s stock got a strong listing in the market today on 26 August 2024. This stock was listed on BSE at a price of Rs 1291, while the IPO price was Rs 900. That is, 43 percent return was received on listing. At the same time, intraday the stock strengthened by 46 percent from the IPO price to reach Rs 1316. The IPO also got high subscription. The question is whether investors should sell the shares or hold them after getting high returns.
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Now what to do in shares?
Shivani Nyati, Head of Wealth, Swastika Investmart, says that this strong listing can be attributed to the company’s established market position, integrated manufacturing capabilities and consistent financial growth. The IPO also received nearly 94 times subscription, which is an indication of strong demand. At the same time, the strong response from investors shows the investors’ confidence in the company’s continued growth and success potential. The strong listing of Interarch Building Products is a positive indicator of its future prospects. Investors who want to hold it for the long term are suggested to keep a stoploss at 1200.
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Investors gave a bumper response
InterArc Building Products’ IPO received an overall subscription of 93.79 times. 50 per cent of InterArc Building Products Limited’s IPO was reserved for qualified institutional buyers (QIB) and it was subscribed 197.29 times. 35 per cent of the IPO was reserved for retail investors and it was subscribed 19.46 times overall. 15 per cent of the IPO was reserved for non-institutional investors (NII) and it was subscribed 130.91 times. The portion reserved for employees was subscribed 25.75 times.
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Brokerage house is also positive on the company
The brokerage house is positive about IIFL company and is seeing growth in the company in the future. The brokerage house has given some reasons behind this.
1. Strong market position in India’s growing PEB industry
2. Fully integrated operations with in-house design and management
3. Demonstrated track record of execution supported by on-site project management capabilities
4. Diversified customer base and long-term relationships with key customers
5. Benefit from favourable industry conditions, including proposed expansion and upgradation of manufacturing facilities
6. Expanding geographic footprint to cater to strategic markets in India and overseas
7. Expansion of Customer Base
8. Increase sales to existing customers
9. Continue to invest in techpro infra to enhance in-house design and engineering and manufacturing capabilities
10. Continuously improve operational efficiency
(Disclaimer: The views or advice on the stock are given by the brokerage house. These are not the personal views of Financial Express. There are risks in the market, so take expert advice before investing.)
