• ArisInfra Solutions fixes IPO price at Rs 210–₹222 per share, seeking to raise Rs 500 crore; opens June 18, lists June 25.
• Started in 2021, the startup converts procurement of construction materials into digital form, catering to large contractors and infra companies.
• Proceeds to cover working capital, technology enhancement, repayment of debt, and expansion through subsidiary Buildmex-Infra.

Mumbai-based ArisInfra Solutions has fixed a price band of Rs 210 to Rs 222 per share for its forthcoming Rs 500 crore initial public offering (IPO). The issue will open for subscription between June 18 and June 20, with the allocation to anchor investors on June 17. The shares are slated to get listed on BSE and NSE on June 25.

The IPO comprises only a new issue of 2.25 crore equity shares with no offer-for-sale component. Proceeds from the issue will go towards strengthening working capital, technology upgradation, and supporting geographic expansion plans. With the current grey market premium (GMP) of Rs 40, the stock may list at Rs 262 per share, which is an 18% premium to the upper price band.

Established in 2021, ArisInfra is a B2B digital-first startup targeting India's construction industry, providing a tech-enabled procurement and supply chain solution for bulk construction materials such as steel, cement, and aggregates. Its customer base consists of real estate developers, infrastructure companies, and big contractors — organizations usually weighed down by inefficient procurement practices.

The site brings together warehousing, logistics, inspection, and just-in-time delivery, integrating disparate supply chains and maximizing efficiency via its online interface. Customers are able to track orders, monitor shipments, and deal with documentation through a centralized dashboard.

Out of the anticipated Rs 499.59 crore raised, a sum of Rs 177 crore will be utilized towards working capital to finance pan-India expansion. Another Rs 204.6 crore will be utilized to pay for or prepay borrowings, and Rs 48 crore will be invested in Buildmex-Infra Pvt., a subsidiary, for working capital. The rest of the proceeds will be used for general corporate purposes and strategic acquisition opportunities.

Initially aiming for Rs 600 crore, ArisInfra scaled down the IPO after the pre-IPO placement of Rs 80 crore came through successfully. The issue is being managed by JM Financial, IIFL Capital Services, and Nuvama Wealth Management, while MUFG Intime India (Link Intime) is the registrar.

Individual investors can submit bids for as low as 67 shares per lot, which amounts to investment of Rs 14,070 to Rs 14,874. Small non-institutional investors (sNII) should bid for 938 shares (14 lots), and large non-institutional investors (bNII) should apply for 4,556 shares (68 lots), with investment exceeding Rs 10.1 lakh.

ArisInfra is also supported by the reputation of co-founder of PharmEasy Siddharth Shah, and that lends transparency to startup-conscious investors. The timing of the IPO works in favor of India's growth in infrastructure and interest in digitization of industrial processes, and as such, it is an interesting bet — given the good grey market reaction.