Interarch corrects internal auditor name to BDO India Services

Interarch Building Solutions has issued a corrigendum to the outcome of its board meeting held on 13 May 2026. The clarification concerns the re-appointment of the company's internal auditors for the financial year 2026-27.

In the initial disclosure submitted to the exchanges, the name of the internal auditor was inadvertently mentioned as “M/s BDO India LLP”. The company has confirmed that the correct name of the entity approved by the Board is “M/s BDO India Services Private Limited”. All other details of the board meeting outcome remain unchanged.

Appointment Details

The re-appointment was made on the recommendation of the Audit Committee. The table below outlines the key particulars regarding the corrected appointment.

Sr. No.	Particulars	Details
1.	Reason for change	RE-APPOINTMENT
2.	Date of Appointment	13.05.2026
3.	Terms of Appointment	Re-appointed as Internal Auditors for the financial year 2026-27

About M/s BDO India Services Private Limited

BDO India operates as the Indian member firm of BDO, a global professional services organization. The firm has a presence in 166 countries and territories with over 119,000 professionals worldwide. In India, the firm maintains a national footprint with 20 offices across 14 cities, employing over 11,000 professionals.

The service offerings of the firm include Assurance & Audit, Direct & Indirect Tax, Transaction & Deal Advisory, Risk Advisory, and Digital Transformation solutions. The entity serves a diverse client base across sectors such as manufacturing, financial services, real estate, and pharmaceuticals.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+3.58%	+2.55%	-11.91%	-26.88%	-11.93%	+51.63%

Interarch Building Solutions Limited (formerly known as Interarch Building Products Limited) has received the Monitoring Agency Report for the quarter ended March 31, 2026, from Crisil Ratings Limited, pertaining to the utilisation of proceeds from its Initial Public Offer (IPO). The report was submitted to the stock exchanges on May 15, 2026, in compliance with Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Regulation 41(2) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

IPO Issue Overview

The company's IPO, which ran from August 19, 2024, to August 21, 2024, comprised a fresh issuance of Rs 2,000.00 million in equity shares. After accounting for issue expenses of Rs 119.02 million, the net proceeds available for deployment stood at Rs 1,880.98 million. The report was prepared on the basis of a peer-reviewed independent chartered accountant certificate dated April 28, 2026, issued by M/s Bansal & Co LLP, Chartered Accountants (Firm Registration Number: 001113S/N500079).

Particulars:	Amount (Rs in million)
Gross Proceeds from Fresh Issue:	2,000.00
Less: Issue Expenses:	119.02
Net Proceeds:	1,880.98

Revised Allocation of IPO Proceeds

The original allocation of IPO proceeds has been revised multiple times following shareholder approvals. The most recent revision, approved via special resolution dated March 28, 2026, reallocated Rs 26.50 million from Object 1, Rs 102.90 million from Object 2, and Rs 0.42 million from Object 6 towards a new object — "Civil and PEB of AP Heavy Facility-II at Andhra Pradesh" — amounting to Rs 129.82 million, with a revised utilisation timeline of March 31, 2027.

The revised cost allocation across all objects is summarised below:

Sr. No.	Object	Original Cost (Rs in million)	Revised Cost (Rs in million)
1	Financing capital expenditure towards setting up the Project	585.33	220.93
2	Upgradation of Kichha, Tamil Nadu (I & II) and Pantnagar Manufacturing Facilities	192.46	284.76
3	IT infrastructure upgradation	113.92	113.92
4	Incremental working capital requirements	550.00	550.00
5	General Corporate Purposes (GCP)	430.37	486.97
6	Manufacturing Facility-II at Andhra Pradesh (land acquisition)	—	94.58
7	Civil and PEB of AP Heavy Facility-II at Andhra Pradesh	—	129.82
	Subtotal	1,872.08	1,880.98
8	Issue Expenses	127.92	119.02
	Total	2,000.00	2,000.00

Utilisation Progress for the Quarter Ended March 31, 2026

During the quarter ended March 31, 2026, the company utilised Rs 7.79 million across various objects, bringing the cumulative utilisation to Rs 1,707.32 million out of the total Rs 2,000.00 million. The total unutilised amount as at the end of the reported quarter stood at Rs 292.68 million.

Object:	Proposed Amount (Rs in million)	Utilised at Beginning of Quarter (Rs in million)	Utilised During Quarter (Rs in million)	Utilised at End of Quarter (Rs in million)	Unutilised (Rs in million)
Object 1 – Setting up the Project	220.93	179.97	2.96	182.93	38.00
Object 2 – Manufacturing Facility Upgradation	284.76	220.24	4.80	225.04	59.72
Object 3 – IT Infrastructure	113.92	49.32	0.00	49.32	64.60
Object 4 – Working Capital	550.00	550.00	0.00	550.00	0.00
Object 5 – GCP	486.97	486.97	0.00	486.97	0.00
Object 6 – AP Land Acquisition	94.58	94.58	0.00	94.58	0.00
Object 7 – Civil and PEB of AP Heavy Facility-II	129.82	0.00	0.00	0.00	129.82
Sub-Total	1,880.98	1,581.08	7.76	1,588.84	292.14
Issue Expenses	119.02	118.45	0.03	118.48	0.55
Total	2,000.00	1,699.53	7.79	1,707.32	292.68

Deployment of Unutilised Proceeds

The unutilised IPO proceeds of Rs 292.68 million have been deployed in fixed deposits and bank accounts. As at March 31, 2026, the total market value of these investments stood at Rs 306.19 million, with earnings of Rs 38.02 million recorded.

Instrument:	Amount Invested (Rs in million)	Earnings as on March 31, 2026 (Rs in million)	Return on Investment (%)	Market Value (Rs in million)
Fixed Deposit – YES Bank	190.00	22.32	6.45	196.32
Fixed Deposit – HDFC Bank	102.10	15.70	5.75	109.29
Balance – Monitoring Agency Account (HDFC Bank)	0.03	NA	NA	0.03
Balance – Current Account (IndusInd Bank)	0.55	NA	NA	0.55
Total	292.68	38.02	—	306.19

Implementation Delays and No Deviations

The Monitoring Agency confirmed no deviation from the objects of the issue during the quarter ended March 31, 2026. However, delays in implementation were noted for three objects:

Object 1 (Setting up the Project): Against an estimated utilisation of Rs 220.93 million by Fiscal 2026, only Rs 182.93 million had been utilised as at the end of the reported quarter.
Object 2 (Manufacturing Facility Upgradation): Against an estimated utilisation of Rs 284.76 million by Fiscal 2026, only Rs 225.05 million had been utilised as at the end of the reported quarter.
Object 3 (IT Infrastructure): Against an estimated utilisation of Rs 113.92 million by Fiscal 2025, only Rs 49.32 million had been utilised as at the end of the reported quarter.

In line with the Postal Ballot Notice dated February 19, 2026, the Board of Directors of the company, via a resolution dated May 13, 2026, accorded approval for utilisation of the unutilised proceeds during Financial Year 2026-27 towards the objects of the issue.