
Shares of Arisinfra Solutions made a muted stock market debut on Wednesday, June 26. The new age construction and infrastructure player was listed at Rs 205 on NSE, a discount of 7.66 per cent over its issue price of Rs 222. Similarly, the stock kicked-off its maiden trading session with a discount of 5.81 per cent over the given issue price at Rs 209.10 on BSE.
ArisInfra Solutions, a B2B technology platform for construction material procurement, has successfully launched its Initial Public Offering (IPO). The IPO, which was open for bidding from June 18 to June 20, offered shares priced between Rs 210 and Rs 222, and was oversubscribed 2.65 times, with over 1.79 lakh applications received.
The IPO managed to raise Rs 499.60 crore entirely through fresh equity shares totalling 2,25,04,324. While the grey market premium hinted at no significant investor gains due to market volatility, the initial premium was noted at Rs 25.
The subscription breakdown showed retail investors leading demand with a 5.59 times subscription, followed by non-institutional investors at 3.14 times, and qualified institutional bidders at 1.42 times. This reflects a strong interest across different investor segments despite the challenging market conditions.
ArisInfra Solutions, established in 2021, aims to simplify and digitise the procurement process for construction firms, offering an efficient end-to-end experience. With listings now confirmed on both BSE and NSE, the IPO was managed by JM Financial, IIFL Capital Services, and Nuvama Wealth Management, while MUFG Intime India served as the registrar.
The company's entry into the market occurs amidst mixed sentiments from brokerage firms. Despite the grey market's muted response, ArisInfra's technology-driven approach and expanding market presence position it favourably for future growth in the construction materials sector.