ArisInfra Solutions is a business-to-business (“B2B”) technology-enabled company operating in a growing construction materials market, focusing on simplifying and digitizing the entire procurement process for construction materials, delivering an efficient end-to-end procurement experience. They utilize a blend of technology and human expertise to simplify the procurement process for purchasing bulk quantities of various construction materials.
ArisInfra Solutions, an Book Built Issue amounting to ₹ 600.00 Crores. The subscription period for the ArisInfra Solutions IPO opens on March 20, 2025, and closes on March 25, 2025. The allotment is expected to be finalized on or about Wednesday, March 26, 2025, and the shares will be listed on the BSE & NSE with a tentative listing date set on or about Friday, March 28, 2025.
ArisInfra Solutions IPO price bands are yet to be announced.
JM Financial Limited, IIFL Securities Limited and Nuvama Wealth Management Limited is the book running lead manager of the ArisInfra Solutions IPO, while Link Intime India Private Limited is the registrar for the issue.
ArisInfra Solutions Limited IPO GMP Today
The Grey Market Premium of ArisInfra Solutions Limited IPO is expected to be ₹ 0 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.
ArisInfra Solutions Limited IPO Live Subscription Status Today: Real-Time Update
ArisInfra Solutions IPO will be open for its Subscription on 17 March, 2025.
ArisInfra Solutions Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online
ArisInfra Solutions IPO allotment date is 26 March, 2025, Wednesday. ArisInfra Solutions IPO Allotment will be out on 26 March, 2025 and will be live on Registrar Website from the allotment date. Check ArisInfra Solutions IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select ArisInfra Solutions Limited IPO from the dropdown list of IPOs
- Enter your application number, PAN, or DP Client ID
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.
Objectives of ArisInfra Solutions Limited IPO
ArisInfra Solutions proposes to utilise the Net Proceeds towards the following objects:
1. ₹ 2,046.00 Million is required for Repayment / prepayment, in full or part, of certain outstanding borrowings availed by the Company;
2. ₹ 1,770.00 Million is required for Funding the working capital requirements of the Company;
3. ₹ 480.00 Million is required for Investment in the Subsidiary, Buildmex-Infra Private Limited (“Buildmex”), for funding its working capital requirements;
4. ₹ 204.00 Million is required for Purchase of partial shareholding from existing shareholders of the Subsidiary, ArisUnitern Re Solutions Private Limited (formerly ArisUnitern Private Limited);
5. General corporate purposes and unidentified inorganic acquisitions.
Refer to ArisInfra Solutions Limited DRHP for more details about the Company.
Check latest IPO Review & analysis, Live IPO GMP today, Live IPO Subscription Status Today, Share Price, Financial Information and other details before applying in the IPO.
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ArisInfra Solutions IPO Details |
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IPO Date | March 20, 2025 to March 25, 2025 | ||||||||||
Listing Date | March 28, 2025 | ||||||||||
Face Value | ₹ 2 | ||||||||||
Price | |||||||||||
Lot Size | |||||||||||
Total Issue Size | Equity Shares (aggregating up to ₹ 600.00 Cr) | ||||||||||
Fresh Issue | Equity Shares (aggregating up to ₹ 600.00 Cr) | ||||||||||
Offer for Sale | NIL | ||||||||||
Issue Type | Book Built Issue | ||||||||||
Listing At | BSE & NSE | ||||||||||
Share holding pre issue | 4,62,46,260 | ||||||||||
Share holding post issue | 5,49,24,390 |
ArisInfra Solutions IPO Lot Size |
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Application | Lots | Shares | Amount | ||||||||
Retail (Min) | - | - | ₹- | ||||||||
Retail (Max) | - | - | ₹- | ||||||||
S-HNI (Min) | - | - | ₹- | ||||||||
S-HNI (Max) | - | - | ₹- | ||||||||
B-HNI (Min) | - | - | ₹- |
ArisInfra Solutions IPO Timeline (Tentative Schedule) |
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IPO Open Date | Thursday, March 20, 2025 | ||||||||||
IPO Close Date | Tuesday, March 25, 2025 | ||||||||||
Basis of Allotment | Wednesday, March 26, 2025 | ||||||||||
Initiation of Refunds | Thursday, March 27, 2025 | ||||||||||
Credit of Shares to Demat | Thursday, March 27, 2025 | ||||||||||
Listing Date | Friday, March 28, 2025 | ||||||||||
Cut-off time for UPI mandate confirmation | 5 PM on March 25, 2025 |
ArisInfra Solutions IPO Reservation |
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Investor Category | Shares Offered | Reservation % | |||||||||
QIB Portion | - | Not More than 50% of the Issue | |||||||||
Non-Institutional Investor Portion | - | Not Less than 15% of the Issue | |||||||||
Retail Shares Offered | - | Not Less than 35% of the Issue | |||||||||
Employee Reservation | - | - |
ArisInfra Solutions IPO Promoter Holding |
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Share Holding Pre Issue | 55.34% | ||||||||||
Share Holding Post Issue | % |
ArisInfra Solutions IPO Subscription Status |
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Investor Category | Shares Offered | Shares Bid For | No oF Times Subscribed | ||||||||
Qualified Institutional Buyers (QIB) | - | - | 0 | ||||||||
Non Institutional Investors(NIIS) | - | - | 0 | ||||||||
Retail Individual Investors (RIIs) | - | - | 0 | ||||||||
Employee Reservation | - | - | 0 | ||||||||
Total | - | - | 0 |
Business Overview
ArisInfra Solutions is a B2B technology-enabled company streamlining the procurement of construction materials through digital solutions and human expertise. Operating in a high-growth, fragmented market, the company minimizes the role of intermediaries, offering a cost-effective and efficient alternative for real estate and infrastructure developers.
Between April 1, 2021, and March 31, 2024, the company delivered 10.35 million metric tonnes (MT) of construction materials, including aggregates, ready-mix concrete (RMC), steel, cement, construction chemicals, and walling solutions, serving 2,133 customers across 963 pin codes. The vendor network expanded to 1,458 suppliers, reflecting a scalable business model.
Key customers include Capacit’e Infraprojects, J Kumar Infraprojects, Afcons Infrastructure, EMS Limited, S P Singla Constructions, Wadhwa Group, and Puranik Builders. Vendors include Guardian Casting, G S Ispat, Swarajya – Stones LLP, Sun-x Concrete, Bigbloc Building Elements, and Normet India. The volume of materials delivered rose from 2.32 million MT in Fiscal 2022 to 4.02 million MT in Fiscal 2024, while daily dispatches increased from 282 to 484.
Through its subsidiary, ArisUnitern Re Solutions, the company offers value-added services, including advisory, consultancy, marketing, and sales support tailored for real estate developers. These services enhance revenue streams, strengthen client relationships, and position ArisInfra as a trusted industry partner.
As of July 31, 2024, the Company had 187 permanent employees. The Bankers to the Company are The Hongkong and Shanghai Banking Corporation Limited, India, IndusInd Bank Limited, Axis Bank Limited and HDFC Bank Limited.
Industry Analysis
Construction Material Supply Market: A Deep Dive into Total Addressable Market (TAM)
In 2023, the industrial B2B market saw 45% to 50% of total spending (USD 265 billion to USD 285 billion) directed toward infrastructure and real estate construction. This highlights the sector’s significant role in India's economic landscape.
The B2B infrastructure market in India was valued at USD 100 billion to USD 110 billion in 2023 and is projected to grow at a 10% to 12% CAGR, reaching USD 170 billion to USD 195 billion by 2028. This sector primarily consists of capital expenditures across:
Notably, energy and transport infrastructure contribute approximately 60% to 65% of the total infrastructure market.
The B2B real estate construction market—which includes both residential and commercial sectors—was valued at USD 165 billion to USD 175 billion in 2023. It is expected to expand at a 6% to 8% CAGR, reaching USD 230 billion to USD 250 billion by 2028.
Beyond infrastructure and real estate, the remaining industrial B2B market includes segments such as auto components, defense manufacturing, mining, and quarrying.
The construction market is broadly categorized into:
The raw materials segment alone was valued at USD 230 billion to USD 280 billion in 2023, with a projected growth rate of 5% to 8% CAGR, reaching USD 290 billion to USD 340 billion by 2028. Cement, steel, and other metals account for 60% to 70% of total raw material costs, making them the key cost drivers in the construction sector.
As per India’s First Advance Estimates for Budget Fiscal 2024, the construction industry contributes approximately 9% to the country’s GDP. The sector’s steady growth trajectory (5% to 8% CAGR from 2023 to 2028) positions it as a crucial pillar of India’s economic development.
With rising infrastructure investments and expanding real estate development, the construction material supply market remains a key growth driver for the industrial B2B sector in India.
Business Strengths
1. Technology-Driven Supply Chain Optimization
A B2B technology-enabled platform streamlining construction material procurement using AI and machine learning, eliminating intermediaries for a seamless and efficient supply chain.
2. Scalable and Market-Ready Business Model
A scalable technology-driven approach enables rapid market expansion with lower incremental costs, ensuring efficiency in onboarding customers and vendors across geographies.
3. Expansion into Third-Party Manufactured Materials
Entered the fragmented construction materials market with third-party manufacturing of aggregates, RMC, and aerated concrete blocks, ensuring quality control, better margins, and higher revenue.
4. Strong Network Effects for Sustained Growth
A growing ecosystem of customers and vendors creates a self-reinforcing demand cycle, enhancing material availability, data-driven decision-making, and compliance with verified transactions.
5. Technology-Enabled Credit Risk Assessment
A robust credit risk framework analyzes GST filings, financial data, and transaction history to assess new and existing customers, enabling real-time risk monitoring and strategic decision-making.
6. Experienced Leadership Driving Growth
Led by Ronak Kishor Morbia (Chairman & MD) with 13+ years in construction material supply, and Bhavik Jayesh Khara (Whole-time Director) overseeing finance and operations with 6+ years of expertise
Business Strategies
1. Optimizing Product Mix for Higher Margins
Diversifying construction material offerings to align with market demand and customer preferences, focusing on high-margin products to enhance financial performance.
2. Strategic Partnerships for Supply Chain Strength & Portfolio Expansion
Collaborating with third-party manufacturers to leverage underutilized capacities, ensuring better production control, quality assurance, and higher margins while minimizing capital expenditure.
3. Partnerships to Drive Demand and Revenue Growth
Expanding sales by forming alliances with key industry players, tapping into real estate and infrastructure networks, and gaining insights into active projects for informed credit risk management.
4. Enhancing Working Capital Efficiency
Optimizing cash flow through better vendor payment terms, invoice discounting, and supply chain financing, ensuring immediate capital access and operational liquidity.
5. Expanding Market Penetration & Increasing Wallet Share
Reaching new micro-markets while strengthening relationships with developers and contractors, increasing the sale of construction materials to existing and new projects.
6. Leveraging Technology for Operational Optimization
Implementing demand-supply auto-syndication, credit-linked pricing, and advanced hardware deployment to automate order processing, optimize pricing strategies, and improve inventory management
Business Risk Factors and Concerns
1. Dependence on Key Revenue Sources
A significant portion of revenue comes from aggregates (31.19%), ready-mix concrete (21.12%), and steel (16.13%). Any decline in demand for these materials due to market downturns, competition, or macroeconomic factors can negatively impact financial performance.
2. Geographical Revenue Concentration
Operations are highly concentrated in Maharashtra, Karnataka, and Tamil Nadu, contributing 81.05% of revenue in Fiscal 2024. Any adverse economic, political, or environmental developments in these states could disrupt business and financial stability.
3. Reliance on Third-Party Manufacturers
Third-party manufactured materials contributed 17.57% of revenue in Fiscal 2024. Dependence on external manufacturers poses risks related to supply chain disruptions, quality control, and production delays.
4. Vendor Dependency Risks
The top 10 vendors accounted for 38.25% of total purchases in Fiscal 2024. Lack of long-term agreements with vendors increases the risk of supply shortages, price fluctuations, and disruptions in operations.
5. Industry-Specific Demand Volatility
Business performance is directly linked to housing, infrastructure, and commercial real estate sectors. Any downturn in these industries due to economic slowdowns or policy shifts may adversely affect revenue growth.
6. Uncertainty in Value-Added Services Growth
Value-added services through ArisUnitern Re Solutions Private Limited contributed 3.56% of revenue in Fiscal 2024. Market fluctuations, regulatory changes, and economic downturns could impact demand, affecting financial stability and client retention.
ArisInfra Solutions is highly dependent on key materials like aggregates, ready-mix concrete, and steel, making it vulnerable to market shifts. Its geographical concentration in Maharashtra, Karnataka, and Tamil Nadu (81.05% of revenue) adds regional risks. Reliance on third-party manufacturers (17.57% of revenue) and top vendors (38.25% of purchases) creates supply chain uncertainties. The company’s growth is also tied to real estate and infrastructure sectors, and its value-added services (3.56% of revenue) face demand fluctuations.
Period Ended | Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 |
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Reserve of Surplus | 1,397.72 | -413.63 | -60.09 |
Total Assets | 4,928.27 | 3,949.49 | 3,342.16 |
Total Borrowings | 2,739.81 | 2,203.52 | 1,542.49 |
Fixed Assets | 24.02 | 17.03 | 13.30 |
Cash | 5.94 | 30.79 | 181.07 |
Net Borrowing | 2,733.87 | 2,172.73 | 1,361.42 |
Revenue | 7,023.56 | 7,544.39 | 4,537.66 |
EBITDA | 183.15 | 76.92 | 3.36 |
PAT | -172.98 | -153.92 | -64.87 |
EPS | -5.3 | -4.08 | -1.78 |
Note 1:- RoE, ROCE & RoNW calculation in KPI is based on 31st Mar, 2024 Data, given in RHP.
Note 2:- Pre EPS and Post EPS calculation in KPI is based (Profit/Loss for the Year) on 31st Mar, 2024 Data, given in RHP.
Note 3:- RoNW calculation in KPI is based on 31st Mar, 2024 Data, given in RHP.
Key Performance Indicator |
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KPI | Values | ||||||||||
EPS Pre IPO (Rs.) | ₹-5.3 | ||||||||||
EPS Post IPO (Rs.) | ₹ | ||||||||||
P/E Pre IPO | - | ||||||||||
P/E Post IPO | - | ||||||||||
ROE | - | ||||||||||
ROCE | - | ||||||||||
P/BV | - | ||||||||||
Debt/Equity | 1.45 | ||||||||||
RoNW | -13.14% |
ArisInfra Solutions Limited IPO Peer Comparison |
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Company Name | EPS | ROCE | ROE | P/E (x) | P/Bv | Debt/Equity | RoNW (%) | ||||
ArisInfra Solutions Limited | ₹ | % | % | - | - | 1.45 | -13.14 % | ||||
There are no Listed Peer Companies in India which can be compared with ArisInfra Solutions Limited. | ₹ | % | % | - | - | - | % |
ARISINFRA SOLUTIONS LIMITED
Unit No. G-A-04 to 07, Ground Floor – A Wing, Art Guild House, Phoenix Marketcity, LBS Marg, Kurla (West), Mumbai 400 070, Maharashtra, India
Contact Person : Latesh Shailesh Shah
Telephone : 022 - 2611 2029
Email ID : cs@arisinfra.one
Website : https://arisinfra.com/
Registrar : Link Intime India Private Limited
Telephone : +91 81081 14949
Contact Person : Shanti Gopalkrishnan
Email ID : :arisinfra.ipo@linkintime.co.in
Website : https://www.linkintime.co.in/
Lead Manager :
JM Financial Limited
IIFL Securities Limited
Nuvama Wealth Management Limited
ArisInfra Solutions is a business-to-business (“B2B”) technology-enabled company operating in a growing construction materials market, focusing on simplifying and digitizing the entire procurement process for construction materials, delivering an efficient end-to-end procurement experience. They utilize a blend of technology and human expertise to simplify the procurement process for purchasing bulk quantities of various construction materials.
The Company's leadership team, led by Chairman & MD Ronak Kishor Morbia (13+ years in construction material supply) and Whole-time Director Bhavik Jayesh Khara (6+ years in tax accounting and construction materials), drives the strategic growth and operations. CEO Srinivasan Gopalan (13+ years in management) spearheads business development, CTO & Product Head Jitender Sharan (20+ years in product development) leads the technology roadmap, and CFO Amit Manhar Gala (22+ years in finance) oversees financial strategy. Their collective expertise positions them for sustained growth and stakeholder success.
The Revenues from operations for the Fiscals ended 2024, 2023 and 2022 were ₹ 7,023.56 Lakh, ₹ 7,544.39 Lakh and ₹ 4,537.66 Lakh respectively. The EBITDA for the Fiscals ended 2024, 2023 and 2022 were ₹ 183.15 Lakh, ₹ 76.92 Lakh, and ₹ 3.36 Lakh, respectively. The Profit after Tax for the Fiscals ended 2024, 2023 and 2022 were ₹ -172.98 Lakh, ₹ -153.92 Lakh, and ₹ 64.87 Lakh respectively. This indicates a steady growth in financial performance.
The Grey Market Premium (GMP) of ArisInfra Solutions showing listing gains of 0.00 %.
Disclaimer: The information provided in this IPO review is for educational and informational purposes only and should not be construed as financial advice or an offer to buy or sell securities. The review must not be used as a singular basis of any investment decision. The views herein are of a general nature and do not consider the risk appetite or the particular circumstances of an individual investor; readers are requested to take professional advice before investing. Nothing in this document should be construed as investment advice. The content is based on publicly available information and market perceptions as of the date of publication and is subject to change. Neither the author nor the website is responsible for any losses or damages arising from the use of this information.
About the Author
CA Abhay Kumar (Also known as CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms during the training period. He is good at Technical analysis and Fundamental Analysis and uses both Technical and Fundamental analysis along with five other important factors that affect the movement of the Market namely Global Market Analysis, Upcoming Event Analysis, Institutional Money Analysis, Derivative Data Analysis, and Emotions and Sentiment of Traders and Investors in his Framework called - Technical Fundamental GUIDE to find the winning Trades.
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