Arisinfra Solutions IPO day 3 Live: GMP, subscription status to review. Apply or not?
ArisInfra Solutions Ltd's public issue opened for subscription on June 18 and will remain open until June 20. The company, which operates in the B2B tech space, focuses on streamlining and digitizing the procurement of construction materials. Despite a modest initial response, the retail investor segment was fully subscribed on the very first day.
On Tuesday, the company announced that it had secured ₹ 225 crore from anchor investors a day ahead of its IPO launch. The anchor allotment saw participation from several entities, including Astorne Capital VCC, Niveshaay Hedgehogs Fund, Citigroup Global Markets Mauritius, Rajasthan Global Securities, Sunrise Investment, Nexus Global Opportunities Fund, Zeal Global Opportunities Fund, Saint Capital Fund, and Beacon Stone Capital, among others.
The price band for the ArisInfra Solutions IPO has been set between ₹ 210 and ₹ 222 per equity share, each having a face value of ₹ 2. The minimum bid lot consists of 67 equity shares, with further bids required in multiples of 67 shares. Based on the upper limit of the price band, the company's valuation nears ₹ 1,800 crore.
According to the company, 75% of the total issue is earmarked for qualified institutional buyers, 15% for non-institutional investors, and the remaining 10% is set aside for retail investors.
ArisInfra Solutions IPO subscription status is 1.43 times on day 3 so far. The retail portion was subscribed 3.26 times, and NII portion was booked 1.62 times. Qualified Institutional Buyers (QIBs) portion received 74% bids.
The company has received bids for 1,89,72,859 shares against 1,30,84,656 shares on offer, at 10:10 IST, according to data on BSE.
' Arisinfra Solutions Limited is engaged in technology enabled B2B supplier for construction materials, that has growing market. It enjoys virtual monopoly in the segment and is most preferred partner in construction activities. It posted losses till FY24 and has just turned corner for 9M of FY25. Based on latest working the issue is aggressively priced, and based on working till FY24, the P/E is negative. Well-informed/cash surplus investors may park moderate funds for long term, others may simply stay away from this pricey bet,' said brokerage firm Bajaj Broking.
Meanwhile, brokerage firm BP Equities said, ' Arisinfra Solutions Limited is currently valued at a P/E ratio of 273x on the upper price band, based on FY25 annualized earnings, which is relatively high; however, it remains well-positioned for future growth, considering that it is the only player in this emerging segment with an intention to repay debt and invest in its subsidiary. We thus recommend a 'SUBSCRIBE' rating for investors with a medium to long-term investment horizon.'
ArisInfra Solutions' IPO Grey Market Premium (GMP) stands at ₹ 13 today, indicating that its shares are trading ₹ 25 above the issue price in the unofficial market, as per investorgain.com.
Based on the IPO's upper price band and the current GMP, the expected listing price is around ₹ 235 per share—an 5.86% gain over the issue price of ₹ 222.
However, grey market trends from the past eight sessions show a declining trajectory in the GMP, which is likely to drop further. The highest GMP during this period was ₹ 40, while the lowest is the current ₹ 25, according to experts cited by investorgain.com.
Grey market premium' indicates investors' readiness to pay more than the issue price.
ArisInfra Solutions' IPO comprises a fresh equity share issuance worth ₹ 499.6 crore, with no offer for sale (OFS) component.
The proceeds from the IPO will be used to fund the company's working capital requirements, provide working capital support to its subsidiary Buildmex-Infra, purchase part of the stake from existing shareholders of its subsidiary ArisUnitern Re Solutions Pvt Ltd, repay outstanding debt, and cover general corporate expenses.
JM Financial, IIFL Capital Services, and Nuvama Wealth Management are acting as the lead managers for the issue.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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