Aris Infra Solutions IPO: What GMP signals after announcement of price band | Stock Market News

Aris Infra Solutions IPO: Aris Infra Solutions Limited’s initial public offering (IPO) is set to open for public bidding on Monday, February 3 and close on Wednesday, February 5. The company helps construction and infrastructure companies buy materials and manage their finances.

The company fixed the price band for the public issue in the range of ₹200 to ₹210 per share with a lot size of 70 shares per lot. 

Aris Infra Solutions IPO GMP

As of January 18, Aris Infra Solutions’s IPO grey market premium (GMP) stood at ₹40 per share. With the issue’s upper price band at ₹210, the shares are expected to be listed at ₹250, a premium of 19.05 per cent, according to data collected from Investorgain.com.

The grey market premium is an indicator of investors’ willingness to pay more for the public issue.

Aris Infra Solutions IPO Details

Aris Infra Solutions, is a business-to-business (B2B) tech firm which focuses on assisting construction and infrastructure companies in buying materials and managing their finances. The company is offering a book-built issue of shares aiming to raise ₹600 crore from the public markets.

The issue comprises an entire fresh release of 2.86 crore equity shares. With the IPO set to close on Wednesday, February 5, the allotment is expected to be finalised on Thursday, February 6.

The IPO is expected to be listed on the BSE and NSE indices on Monday, February 10.

The company aims to use the proceeds raised from the public issue to fund the repayment or prepayment in parts or in full of certain outstanding borrowings by the company. The company also aims to use certain funds to cater to the working capital needs and the remaining for general corporate purposes.

JM Financial Limited, IIFL Securities Ltd, and Nuvama Wealth Management Limited are the book-running lead managers for the public issue, while Link Intime India Pvt. Ltd. is the registrar to the offer.

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