At 11am, retail investors subscribed to 23% of the issue, with a total of 23,79,028 reserves, the company’s 5,46,921 shares were bid. Non-institutional investors followed a 5%subscription, while qualified institutional buyers did not bid.
According to the minimum bid details, retail investors must apply for at least 67 shares, which will cost Rs. Translates in an investment of 14,070. SNI For (small non-institutional investors), the minimum application size is 14 lots or 938 shares, requiring an investment of about Rs 2,08,236. Meanwhile, NIIS (non-institutional investors) need to bid for at least 68 flours, which is equivalent to 4,556 shares, which is Rs 10,11,432.
According to the company’s draft Red Hering Prospectus (DRHP), net income from the public issue will be used mainly to fund the working capital requirements of Arisinfa, as it gives its operations in multiple regions.
With the full issue of equity shares, the IPO will pay Rs. Bands have been fixed for Rs 210 to 222 per share for an offer of Rs 500 crore. The subscription window opened early today and will close on June 20.
Shares of the company are likely to be listed on BSE and NSE on June 25. The allocation is likely to be finalized by June 23.
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The issue is being administered by JM Financial, IIFL Capital Services and Wealth Management, MUFG Intime India (Link Intim) has served as Registrar for Offer Fur.
What is the GMP of Arisinfra Solutions?
Shares of Arisinfra Solutions are trading at a gray market premium of 9.9% or Rs 22-24 in the unlisted market.
About Arisinfra solutions
Established in 2021, Arisinfra Solutions is a technology-based B2B procurement platform supported by Pharmacy co-founder Siddharth Shah. The goal of the company is to digitally change the procurement ecosystem for construction materials by catering to institutional buyers such as real estate developers, contractors and infrastructure. It facilitates the wholesale supply of essential materials, including steel, cement and overall.
The unified digital platform of Arisinfra integrates warehousing, logistics, quality control and just time-to-time deliveries, giving customers a well-known experience. Through its interface, users can order, make the shipment a track, manage the documentation, and cause the technical support to access the access – the status of Irisinfra as a frontner in the construction supply chain industry.
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