Arisinfra Solutions didn’t exactly win investor hearts on its first day at the stock market. On June 25, the company listed its shares at ₹205 on the NSE, a sharp 8% drop from its IPO price of ₹222. On the BSE, it wasn’t much better—shares opened at ₹209, still 6% lower.
The Grey Market Got It Right
Before listing, there was zero grey market premium (GMP) for Arisinfra Solutions. That flat GMP turned out to be a warning sign. While most investors expect some pop on Day 1, this one delivered a dip.
What Was the IPO All About?
Arisinfra had raised up to ₹500 crore through a fresh issue—no Offer for Sale (OFS) involved. The price band was ₹210–₹222 per share. Retail investors could apply starting at 67 shares per lot.
The IPO wasn’t a total flop in terms of interest. It was subscribed 2.65 times. Retail investors led the pack with 5.59x subscription, followed by non-institutional buyers at 3.14x, and QIBs at just 1.42x. Clearly, the big money was cautious.
What Does Arisinfra Do?
Arisinfra Solutions is a B2B tech player that digitizes the construction material procurement process. Think of it as the digital link between builders and suppliers. It’s a fast-growing space with little direct competition. The company even claims a virtual monopoly in some areas.
So Why the Cold Market Response?
Because it may have been overhyped and overpriced.
Analysts had mixed reactions. Bajaj Broking told investors to stay in for the long term but admitted the IPO was “aggressively priced.” The firm noted Arisinfra had posted losses up till FY24, and only showed profit for the first 9 months of FY25.
Anand Rathi went further, calling the valuation “expensive” and advising investors to avoid it. According to them, the 48.3x FY25 EV/EBITDA ratio is hard to justify—even if Arisinfra is in a niche segment.
Should You Still Bet on Arisinfra?
That depends. If you’re the kind who backs long-term tech stories, Arisinfra might still play out. But if you’re looking for quick IPO gains, this debut is a red flag. The lack of excitement from institutional buyers also hints at caution ahead.
Arisinfra Solutions has entered the public market with more questions than answers. It’s a unique business with potential, but today’s listing shows that investors are no longer blindly buying into tech dreams without solid numbers. Time will tell if this is a missed gem—or just another overpriced startup.
Disclaimer:
Investment tips shared by experts are their own opinions. Please consult a certified advisor before making any investment decisions.
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