Interarch Building Products' shares surge nearly 34% in market debut
Shares of construction solutions provider Interarch Building Products Ltd on Monday ended with a premium of nearly 34 per cent against the issue price of Rs 900.
The stock made its debut at Rs 1,291.20, surging 43.46 per cent from the issue price on the BSE.
During the day, it zoomed 46.22 per cent to Rs 1,316. Shares of the firm ended at Rs 1,196.45, up 32.93 per cent.
At the NSE, it listed at Rs 1,299, a jump of 44.33 per cent. The stock ended at Rs 1,203.10, surging 33.67 per cent.
The company's market valuation stood at Rs 1,990.94 crore.
In traded volume terms, 6.47 lakh shares of the firm were traded at the BSE and 70.50 lakh shares at the NSE during the day.
The initial public offering of Interarch Building Products got subscribed a whopping 93.46 times on the last day of subscription on Wednesday.
The Rs 600-crore initial share sale had a price range for the offer at Rs 850-900 per share.
Proceeds from the fresh issue will be used for capital expenditures, system upgrad