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Published on
June 25, 2025
5 min read
ArisInfra Shares List at 8% Discount, Slip 22% Below IPO Price
ArisInfra Solutions’ shares were listed at an 8% discount to the IPO price on the National Stock Exchange (NSE). According to Moneycontrol, the shares were listed at a discount of nearly 8% of the IPO price at INR 205 instead of INR ₹222 per share.
Following the weak debut, the stock slipped further, dropping over 15% to close at INR 173.90 per cent. It is now trading around 22% lower than its issue price.
The company had launched its IPO to raise up to INR 500 crore through a fresh issue of equity shares, with no offer for sale (OFS) component. The IPO was priced in the range of INR 210–222 per share, and the minimum bid lot was 67 shares, with applications allowed in multiples thereafter.
Weak Debut Raises Questions
The discount on ArisInfra’s IPO listing showcases the broader market caution currently surrounding new-age tech and infrastructure companies. On the BSE, the company’s shares were listed at ₹209 per share, nearly 6% below the IPO price.
The stock’s opening failed to meet grey market expectations. Before listing, its unlisted shares were trading flat with no grey market premium (GMP) over the IPO price of ₹222, as per data from Investorgain.
ArisInfra’s GMP analysis before listing indicated a mild premium of ₹10-15 over the issue price. However, as market conditions turned cautious, the grey market enthusiasm began fading.
In the final days before listing, the GMP began slipping, pointing to lower-than-expected debut pricing. Analysts say this was an early sign that the stock may struggle during the initial trading sessions.
A Look at the IPO and Subscription Trends
ArisInfra’s initial public offering received a decent investor response.Institutional buyers largely drove the overall subscription to 8.6 times, while retail investors also fully subscribed to the offering. However, despite the healthy demand, the listing failed to reflect investor optimism.
Several experts believe that investor enthusiasm during the IPO phase did not convert to strong buying interest during the listing. This led to the noticeable gap in ArisInfra’s IPO performance seen today.
Bajaj Broking had recommended investors to subscribe to the IPO with a long-term view, while also cautioning that the issue was “aggressively priced.” It said, “ASL is engaged in technology enabled B2B supplier for construction materials, that has growing market. It enjoys virtual monopoly in the segment and is most preferred partner in construction activities. It posted losses till FY24 and has just turned corner for 9M of FY25.”
What’s Next for ArisInfra?
Despite the underwhelming debut, ArisInfra’s fundamentals remain strong, according to many analysts. As a B2B player in the construction tech space, it aligns its business model with the long-term digitization trend in the infrastructure sector.
Market watchers suggest that while the discount on ArisInfra IPO listing may impact short-term sentiment, investors with a long-term view might still find value in the company. The stock could see a gradual recovery if it delivers consistent financial performance and scales its platform effectively.
The discount on ArisInfra’s NSE listing may not have been the start that many hoped for, but it’s not necessarily the end of investor interest in the company. Bajaj also added, “Based on latest working the issue is aggressively priced, and based on working till FY24, the P/E is negative. Well-informed/cash surplus investors may park moderate funds for long term; others may simply stay away from this pricey bet.”
