ArisInfra Solutions IPO Day 3: Subscription Updates, GMP, Apply or Avoid?

ArisInfra Solutions Limited, a tech-driven B2B construction material procurement platform, opened its much-anticipated IPO on June 18, 2025, and the issue will close today, June 20, 2025. Despite a lukewarm start, the IPO has seen significant interest from retail investors, with the retail quota fully subscribed on the very first day.

As the IPO enters its final subscription day, let’s deep dive into its subscription status, GMP (Grey Market Premium), financials, and expert recommendations to help you decide whether you should invest or give it a pass.

ArisInfra Solutions IPO: Key Details at a Glance

IPO Subscription Status (As of June 20, 2025 – 10:10 AM IST)

While the retail and HNI/NII portions have seen healthy interest, QIB subscription remains underwhelming so far. However, final bids from QIBs typically come in the last hours.

Anchor Investors Boost Confidence

ArisInfra Solutions successfully raised ₹225 crore from anchor investors before the IPO opened, securing participation from top domestic and global funds. Notable anchor investors include:

• Astorne Capital VCC
• Citigroup Global Markets Mauritius
• Rajasthan Global Securities
• Nexus Global Opportunities Fund
• Zeal Global Opportunities Fund
• Beacon Stone Capital

This early backing from institutional players adds credibility to the issue, even as concerns around valuations persist.

About ArisInfra Solutions Ltd: Business Overview

ArisInfra Solutions operates in a tech-enabled B2B space, offering an end-to-end solution for procurement of construction materials like cement, steel, aggregates, and more. The company leverages technology to digitize and streamline procurement for the construction and infrastructure sector, targeting a market that still predominantly operates in traditional offline formats.

It claims to enjoy a virtual monopoly in this emerging niche, providing critical solutions to some of the country’s largest construction companies.

Financial Performance Snapshot

• The company was loss-making till FY24, only turning profitable in the last 9 months of FY25.
• Debt repayment is one of the key objectives of the IPO.
• Based on FY24 earnings, the P/E ratio is negative, but FY25 annualized P/E stands at a steep 273x.

ArisInfra Solutions IPO GMP Today (Grey Market Premium)

The Grey Market Premium (GMP) for ArisInfra Solutions IPO today is ₹13 per share.

However, the GMP has been declining steadily, with a high of ₹40 in the last eight sessions now dropping to ₹13, reflecting reduced optimism in grey market sentiments.

Expert Recommendations: Should You Apply?

Bajaj Broking: Cautious Approach

“Aggressively priced IPO with no proven consistent profitability yet. Negative P/E based on FY24 numbers. Only cash surplus or risk-taking investors should apply. Conservative investors should stay away.”

✅ BP Equities: Subscribe for Long-Term

“Despite expensive valuation (P/E of 273x), ArisInfra is well positioned as a first-mover in the digital B2B construction material market. Debt reduction plans and monopoly positioning support long-term growth. Recommend ‘SUBSCRIBE’ for medium to long-term investors.”

Utilization of IPO Proceeds

ArisInfra plans to use the ₹499.6 crore raised through the IPO for:

1. Working capital requirements
2. Funding its subsidiary, Buildmex-Infra
3. Partial stake purchase in ArisUnitern Re Solutions Pvt Ltd
4. Debt repayment
5. General corporate purposes

Pros and Cons of ArisInfra Solutions IPO

✅ Positives:

• Emerging tech-based B2B market leader
• Strong anchor investor participation
• Digital transformation potential in construction procurement

Concerns:

• Expensive valuation (P/E 273x)
• Patchy profitability history
• Declining grey market premium trend
• Dependence on successful scaling post-listing

Important Dates to Remember

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