The nearly Rs 500-crore Arisinfra Solutions got subscribed 2.65 times on the third day of bidding. The Initial Public Offer (IPO) received bids for 3.46 crore shares against 1.30 crore shares on offer, as per NSE data.
The category for Retail Individual Investors (RIIs) got subscribed 5.59 times while the portion for non-institutional investors fetched 3.14 times subscription. The quota for Qualified Institutional Buyers (QIBs) received 1.42 times subscription. Earlier, it garnered Rs 225 crore from anchor investors.
The price band for the offer has been fixed at Rs 210 to Rs 222 per share. At the upper end of the price band, the company is valued at nearly Rs 1,800 crore.
According to platforms tracking the grey market activities, the shares of the company are commanding a GMP of about of 4 percent in the unregulated market. Investorgain quoted a GMP of Rs 10 for the shares of the company, indicating a listing gain of 4.5 percent.
Arisinfra Solutions is a B2B technology-enabled company, focusing on simplifying and digitising the procurement process for construction materials.
Shares of the company will be listed on June 25, while the allotment is expected on June 23.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
