ArisInfra Solutions Faces Steep IPO Challenge with Over 21% Drop

Shares in ArisInfra Solutions Ltd took a substantial hit on Wednesday, closing at a 21.50% discount from its initial public offering (IPO) price of Rs 222. The stock's journey today began at Rs 209.10, falling 5.81% on the BSE, before plunging further to Rs 171.50 by day's end, settling at Rs 174.10—a total 21.57% drop by close.

This financial trajectory was mirrored at NSE, where shares debuted at Rs 205, marking a 7.65% discount, ultimately falling to Rs 174.38, a 21.45% decrease. The company, with a market valuation pegged at Rs 1,411.05 crore, saw its previous anticipations for the Rs 500-crore IPO—subscribed 2.65 times—tempered by the stock's performance.

The IPO, entirely a fresh issue of Rs 499.6 crore shares, lacked an Offer-for-Sale element, with funds earmarked for working capital, subsidiary investments, shareholder acquisition, debt repayments, and general corporate purposes. ArisInfra Solutions operates as a B2B enterprise focusing on streamlining digitized procurement in construction materials.

(With inputs from agencies.)