ArisInfra Solutions IPO Falls Flat with Nearly 8% Listing Discount
ArisInfra Solutions Ltd's IPO shares debuted with nearly an 8% discount from the issue price. Listed at Rs 209.10 on the BSE and Rs 205 on the NSE, the shares quickly dropped further, lowering the market valuation to Rs 1,694.72 crore. The IPO proceeds will support business expansion and debt repayment.
- Country:
- India
Shares of ArisInfra Solutions Ltd made a lackluster debut on Wednesday, crashing almost 8% below the issue price of Rs 222.
The stock opened at Rs 209.10 on the BSE, a 5.81% dive from the issue price, and later slipped 9.90% to Rs 200. On the NSE, the share was priced at Rs 205, a 7.65% discount.
Despite the disappointment, the IPO proceeds, which had a price range of Rs 210-222, will be directed towards funding working capital, subsidiary investments, partial share repurchases, loan repayment, and corporate purposes, as ArisInfra continues to digitize construction material procurement.
(With inputs from agencies.)
Advertisement
ALSO READ
ATEN Papers Set to Soar with Upcoming IPO on BSE SME
Connplex Cinemas Sets Stage for IPO with NSE Approval
NSE and BSE to Realign Derivatives Expiry Days after Sebi's Approval
Rachit Prints Fabricates IPO Success with BSE SME Approval
Integrum Energy's IPO Greenlit by BSE: A Leap Toward Sustainable Growth
Google News