Arisinfra Solutions IPO Day 1: Check subscription status, GMP, allotment date & more

The initial public offering (IPO) of Arisinfra Solutions was off to day muted bidding from the investors during the first day of the bidding process from all the categories of the investors. The issue, which kicked off on Wednesday, June 18, shall close for bidding on Friday, June 20.

Mumbai-based ArisInfra Solutions is selling its shares in the price band of Rs 210-222 apiece. Investors can apply for a minimum of 67 shares and its multiples thereafter. It is looking to raise Rs 499.60 crore via IPO, which is entirely a fresh share sale of up to 2,25,04,324 equity shares.

According to the data, the investors made bids for 25,17,257 equity shares, or 19 per cent, compared to the 1,30,84,656 equity shares offered for the subscription by 3.20 pm on Wednesday, June 18, 2025. The bidding for the issue shall continue for three-days.

The allocation for retail investors was subscribed 86 per cent, while the portion reserved for non-institutional investors (NIIs) saw a subscription of 13 per cent. However, the quota set aside for qualified institutional bidders (QIBs) was yet to seen any bids of the same time.

Incorporated in 2021, ArisInfra Solutions is a modern platform that helps construction and infrastructure companies buy materials easily and manage their finances smartly. ArisInfra is a B2B technology-driven player in the expanding construction materials market. It focuses on digitizing and simplifying the procurement process.

The grey market premium (GMP) of Arisinfra Solutions has remained stable amid the volatile broader market conditions. Last heard, the company was commanding a premium of Rs 25 per share in the unofficial market, suggesting a 10-11 per cent listing gains for the investors. The GMP stood around Rs 40 when the price band for the issue was announced.

There are limited listed peers, which operate on a similar business model. Most of its listed peers domestically and globally operate in B2C format in large format stores to cater the retail consumers, which supports their higher margin profile. It relies on short-term borrowings to fund its working capital requirements, which has a severe impact on the profitability, said KR Choksey Finserv.

"On comparing financial performance of the company, with similar players catering to different consumer segment, ArisInfra’s initial offering at 48.3 times annualized FY25 EV/EBITDA appears expensive to us. Accordingly, we recommend a 'avoid' rating to the issue," it added.

For the nine-months ended on December 31, 2024, Arisinfra Solutions reported a net profit of Rs 6.53 crore with a revenue of Rs 557.76 crore. The company clocked a net loss of Rs 17.30 crore with a revenue of Rs 702.36 crore for the financial year 2023-24. Arisinfra Solutions shall command a market capitalization close to Rs 1,800 crore.

ArisInfra is introducing digital first execution to a previously offline business. Given India's strong infrastructure pipeline and the government's digital push, ArisInfra might be a decade-defining infra-tech tale in the making, said Ajcon Global Services.

Arisinfra is leveraging technology to transform the supply chain for construction materials, well-positioned to capitalize on significant market opportunities, and strong network effects ensuring long-term strategic benefits, it added with a 'neutral' rating.

Arisinfra mobilised Rs 225 crore from anchor investors as it allocated 1,01,26,946 shares at a price of Rs 222 apiece. The company has reserved 75 per cent share for the qualified institutional bidders (QIBs), while non-institutional investors (NIIs) will have 15 per cent of allocation reserved for them. Retail investors will have 10 per cent of the net offer allocated towards them.

JM Financial, IIFL Capital Services, Nuvama Wealth Management are the book running lead managers of the Arisinfra Solutions IPO, while MUFG Intime India (Link Intime) is the registrar for the issue. Shares of the company shall be listed at both BSE and NSE with Wednesday, June 25 as the tentative date of listing.