Arisinfra Solutions IPO shares to list today; check latest GMP before market debut

Shares of Arisinfra Solutions are scheduled to make their Dalal Street debut on Wednesday, June 26. The new age construction and infrastructure player is headed for a flat listing, if one goes by the grey market premium (GMP) for the issue. The company has been losing its ground in the unofficial market.

Last heard, Arisinfra Solutions was commanding no premium in the grey market, signaling no gains for the investors. Its premium in the unofficial market has taken a bit hit after a muted bidding for the issue amid volatile market sentiments. However, the GMP stood around Rs 25 on the first day of the bidding.

The IPO of Arisinfra Solutions was open for bidding between June 18 and June 20. It had offered its shares in the price band of Rs 210-222 per share with a lot size of 67 shares. The company raised a total of Rs 499.60 crore from its IPO, which was entirely a fresh share sale of 2,25,04,324 equity shares.

The issue of Arisinfra Solutions was overall subscribed 2.65 times, fetching more than 1.79 lakh applications. The portion for qualified-institutional bidders (QIBs) was subscribed 1.42 times. The portion for non-institutional investors (NIIs) was booked 3.14 times and allocation for retail investors subscribed 5.59 times during the three-day bidding.

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 company in the expanding construction materials market. It focuses on digitizing and simplifying the procurement process, delivering an efficient end-to-end customer experience.

Brokerage firms were mixed on the issue. JM Financial, IIFL Capital Services, Nuvama Wealth Management were the book running lead managers of the Arisinfra Solutions IPO, while MUFG Intime India (Link Intime) served as the registrar for the issue. Shares of the company shall be listed at both BSE and NSE.