Arisinfra Solutions IPO Subscribed 2.56 Times On Day 3
The latest grey market premium for Arisinfra Solutions' initial public offering indicates that the estimated listing price is flat.
The initial public offering of Arisinfra Solutions Ltd. was subscribed 2.56 times on the third day of bidding on Friday. The IPO saw the entry of qualified institutional buyers.
The IPO consisted solely of a fresh issue worth Rs 499.6 crore, with no offer-for-sale component, as detailed in the red herring prospectus.
The price band for the offer was been fixed at Rs 210-222 per share. At the upper end of the price band, the company is valued at nearly Rs 1,800 crore.
Arisinfra Solutions IPO Day 3 Subscription Status
The IPO has been subscribed 2.56 times as of 7 p.m. on Friday.
Qualified Institutions: 1.42 times.
Non-Institutional Buyers: 3.14 times.
Retail Investors: 5.59 times.
ALSO READ
ArisInfra Solutions IPO: Anchor Round Raises Rs 225 Crore With No Mutual Fund Participation
Arisinfra Solutions IPO GMP Today
According to InvestorGain, the latest grey market premium for Arisinfra Solutions IPO was flat as of 5:55 p.m. The GMP indicates an estimated listing price of Rs 222 per share.
Proceeds of the issue will be used for funding the working capital requirements of the company, investment in the subsidiary Buildmex-Infra for funding its working capital, purchase of partial shareholding from existing shareholders of its subsidiary, ArisUnitern Re Solutions Pvt., repayment of loan and for general corporate purposes.
Arisinfra Solutions is a B2B technology-enabled company, focusing on simplifying and digitising the procurement process for construction materials.
JM Financial, IIFL Capital Services and Nuvama Wealth Management are the book-running lead managers to the issue.
(With Inputs From PTI)
