ArisInfra Solutions sets IPO price band at Rs 210-222 per share for Rs 500 crore offering

Mumbai-based ArisInfra Solutions has fixed a price band of Rs 210 to Rs 222 per share for its upcoming Rs 500 crore initial public offering. The IPO will open for subscription on June 18 and close on June 20, with an anchor placement scheduled for June 17. The shares are expected to list on the BSE and NSE on June 25.

The offer comprises a pure fresh issue of 2.25 crore equity shares, with no offer-for-sale component. All proceeds will go to the company, allowing it to deploy capital toward working capital, technology upgrades, and geographic expansion. The latest grey market premium (GMP) of Rs 40 per share suggests a potential listing price of Rs 262, about 18% above the issue’s upper price band.

ArisInfra is one of a growing number of digital-first B2B startups targeting India’s construction sector. Founded in 2021, the company acts as a procurement and supply chain platform for bulk construction materials, such as steel, cement, and aggregates. Its clients include real estate developers, large contractors, and infrastructure firms — institutional buyers often burdened by legacy procurement processes.

The startup integrates warehousing, logistics, quality assurance, and just-in-time delivery through a digital interface, where clients can manage orders, documentation, and track shipments. The platform’s model is designed to solve for inefficiencies across fragmented supply chains in the construction industry, using software to improve visibility and reduce delays.

The IPO is expected to raise Rs 499.59 crore, which will help ArisInfra scale its operations and strengthen its digital and logistics infrastructure. According to the company’s draft red herring prospectus, approximately Rs 177 crore will go toward working capital needs as the company expands operations across India. About Rs 204.6 crore has been earmarked for repayment or prepayment of borrowings, while Rs 48 crore will be invested in Buildmex-Infra Pvt., a subsidiary, to support its working capital.

Remaining proceeds will be used for general corporate purposes and potential acquisitions, as the company looks to widen its supplier network and expand its service footprint across newer construction hubs in India.

ArisInfra’s decision to lower its IPO size from an earlier target of Rs 600 crore comes after raising Rs 80 crore in a pre-IPO placement. The issue is being managed by JM Financial, IIFL Capital Services, and Nuvama Wealth Management. MUFG Intime India (Link Intime) is the registrar.

Retail investors will be required to bid for a minimum of 67 shares per lot, amounting to an investment of Rs 14,070 at the lower end and Rs 14,874 at the upper end. Small non-institutional investors (sNII) must apply for at least 938 shares (14 lots) at an approximate value of Rs 2.08 lakh, while large non-institutional investors (bNII) must bid for 68 lots (4,556 shares), totaling over Rs 10.1 lakh.

The company is backed by Siddharth Shah, co-founder of PharmEasy, adding further visibility among startup-focused investors. The timing of the IPO — during a period of rising infrastructure investment and renewed focus on digitizing industrial workflows — may work in its favor, especially given the strong reception in the grey market.