Daijiworld Media Network – Mumbai
Mumbai, Jun 17: Arisinfra Solutions Limited, a procurement solutions provider for the infrastructure sector, will launch its Rs 499.6 cr IPO on June 18, despite reporting net losses for two consecutive years.
As per the DRHP, Arisinfra posted a net loss of Rs 17.3 cr in FY24, up from Rs 15.39 cr in FY23. Revenue also fell 6.9% YoY, from Rs 754.44 cr to Rs 702.36 cr.
Interestingly, the company saw a turnaround in the first nine months of FY24, posting a profit of Rs 6.53 cr on Rs 557.76 cr revenue till December 31.
The IPO is a pure fresh issue of 2.25 cr shares, priced in a band of Rs 210 – Rs 222 per share. With a GMP of Rs 25, the stock may list at around Rs 247, offering an 11% premium.
The issue closes on June 20, allotment is due on June 23, and listing is expected on June 25 on BSE and NSE.
Retail investors can bid for a lot size of 67 shares, requiring a minimum investment of ?14,874. Allocation is structured with 75% for QIBs, 15% for NIIs, and 10% for retail.
Arisinfra, present in 18 Indian states, plans to use IPO proceeds for working capital, debt repayment, and corporate needs.
JM Financial, IIFL Capital, and Nuvama are the lead managers; MUFG Intime India is the registrar.