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ArisInfra IPO Day 2: Issue Subscribed 84% So Far
- The IPO of B2B ecommerce company ArisInfra Solutions saw a subscription of 84% on the second day.
- Retail investors played a significant role in driving the subscription on the first day, with an overall 24% subscription.
- As of 2:21 PM on the second day, the IPO received bids for 1.1 Cr shares against 1.3 Cr shares on offer.
- Retail investors showed strong interest, resulting in a 2.4X subscription for their portion.
- Non-institutional investors (NIIs) subscribed 88% by bidding for 31.72 Lakh shares.
- Qualified institutional buyers (QIBs) had a 31% subscription rate, bidding for 22.09 Lakh shares.
- The IPO has a division of 75% for QIBs, 15% for NIIs, and 10% for retail investors; no reservation is made for employees.
- ArisInfra has set a price band of INR 210 to INR 222 for its IPO, aiming to raise INR 499.6 Cr.
- At the upper price band of INR 222, the company targets a post-issue implied market capitalization of INR 1,799 Cr.
- ArisInfra is expected to list its shares on June 25 post closure of the IPO on June 20.
- Ahead of the IPO opening, ArisInfra raised INR 224.8 Cr from anchor investors at INR 222 per share.
- Anchor investors included Astorne Capital VCC, Niveshaay Hedgehogs Fund, and Nexus Global Opportunities Fund.
- The IPO is progressing well and generating significant investor interest.
- The IPO closing date is scheduled for June 20, and shares are expected to list on June 25.
- The company aims to raise INR 499.6 Cr through the IPO at a price band of INR 210 to INR 222 per share.
- The subscription rates by various investor categories indicate a positive market reception for ArisInfra's IPO.
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