Arisinfra Solutions IPO Sees Robust Investor Interest
The IPO of Arisinfra Solutions Ltd was subscribed 1.32 times by the second day. Retail investors oversubscribed by three times, and the price is set at Rs 210-222 per share. The Rs 500-crore IPO aims to raise funds for working capital and investments.
- Country:
- India
On Thursday, the initial share sale of Arisinfra Solutions Ltd saw significant investor interest, with a subscription rate of 1.32 times on only its second day.
According to NSE data, the IPO received bids for 1,73,03,085 shares against 1,30,84,656 available shares. Retail Individual Investors oversubscribed by three times while non-institutional investors subscribed to 1.39 times their portion. The Qualified Institutional Buyers' quota was subscribed 73% on this day.
The IPO, valued at nearly Rs 500-crore, offers a fresh issue of equity shares worth Rs 499.6 crore, with no offer for sale component. Proceeds will fund working capital and investments, partially buying out existing shareholders of its subsidiary, and repaying loans. Arisinfra is a technology-focused company enhancing the construction materials procurement process.
(With inputs from agencies.)
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