Arisinfra Solutions IPO: Price, Dates, Allotment, Peer Analysis, GMP, Industry overview, Financials
Arisinfra Solutions IPO Details
IPO Open
18 June 2025
IPO Close
20 June 2025
Price Band
₹210 – ₹222
Issue Size
₹499.60 Cr
Listing on
BSE, NSE
Min. Lot Size
67
Face value
₹2
GMP
₹25
Arisinfra Solutions IPO Timeline
IPO Open
18 June 2025
IPO Close
20 June 2025
Allotment
23 June 2025
Refund initiation
24 June 2025
Demat transfer
24 June 2025
Listing
25 June 2025
Key Performance Indicators
Market Cap
₹1799.28 Cr
P/E
-41.89
EPS
₹-5.30
ROE
10
ROCE
10
Sector
Sector
TL;DR
Arisinfra Solutions IPO is a ₹499.60 Cr Fresh Issue opening June 18, 2025, and closing June 20, 2025. The Price Band is ₹210 – ₹222 per share, with a Min. Lot Size of 67 shares. GMP is currently ₹25. Allotment is expected June 23, 2025, with Listing Date on June 25, 2025 on BSE and NSE. The company is a B2B construction tech platform that recently turned profitable.
About Arisinfra Solutions Limited
Arisinfra Solutions Limited operates as a B2B technology platform dedicated to transforming India’s construction materials procurement and supply chain. The company’s core aim is to resolve significant inefficiencies and widespread fragmentation within this massive industry by providing a comprehensive digital solution.
Established on February 10, 2021, Arisinfra Solutions initially began as a private limited entity before transitioning into a public limited company. Its operations are headquartered in Mumbai City, Maharashtra.
At its heart, Arisinfra’s objective is to streamline and digitize the entire process of sourcing construction materials. The company envisions itself as a single, integrated resource for real estate developers and contractors, leveraging technology to boost efficiency, transparency, and cost-effectiveness in a market traditionally characterized by disorganization.
Arisinfra’s primary offering is its B2B technology platform which streamlines the procurement and delivery of bulk construction materials. Its comprehensive product portfolio includes:
- Steel: GI pipes, MS Wire, MS TMT Bars, GI Wire.
- Cement: Ordinary Portland Cement (OPC) in bulk and other forms.
- Aggregates: Such as sand and various types of aggregates.
- Ready-Mix Concrete (RMC): Standard and specialized concrete mixes.
- Construction Chemicals: A range of chemicals used in construction applications.
- Walling Solutions: Including Wall Putty, Solid Blocks, and AAC (Autoclaved Aerated Concrete) Fly Ash Blocks.
Key Technological & Value-Added Services:
- Digital Procurement Platform: Enables developers to submit requests for quotations (RFQs) and receive aggregated, competitive bids from a vast network of vendors. This eliminates the need for customers to contact multiple vendors individually.
- AI/ML Integration: Utilized for:
- Vendor Matching: Identifying suitable vendors based on location, proximity to customers, credit terms, and past performance.
- Price Discovery: Improving transparency and efficiency in pricing.
- Credit Risk Analysis: Assessing and managing credit risk to mitigate financial exposures.
- ArisDelivery (Proprietary Delivery Management System): Provides real-time updates, enhances operational efficiency, and improves coordination for daily material deliveries.
- Third-Party Manufacturing: Expanded into third-party manufacturing of aggregates, RMC, and walling solutions in Fiscal 2023. This strategy aims to ensure supply reliability, improve margins, and reduce dependency on external intermediaries.
- Advisory & Consultancy Services (via subsidiary ArisUnitern Re Solutions Private Limited): Offers value-added services, including marketing and sales support, specifically for real estate developers and their projects.
Target Customers & Clients
- Target Customers: Large real estate developers, infrastructure developers, and contractors who require bulk quantities of construction materials for their projects. Arisinfra aims to cater to their entire material procurement needs.
- Key Clients (as of RHP and recent reports):
- Capacit’e Infraprojects Limited
- J Kumar Infraprojects Limited
- Afcons Infrastructure Limited
- EMS Limited
- S P Singla Constructions Private Limited
- Real Gem Buildtech Private Limited
- Wadhwa Group Holdings Private Ltd
- Other significant names include Tata Group, JSW, and UltraTech Cement, reflecting strong credibility in the market.
About Arisinfra Solutions IPO
Arisinfra Solutions Limited’s IPO, valued at ₹499.60 Crores, is a fresh issue opening for subscription from June 18 to June 20, 2025, with shares priced between ₹210 and ₹222 each. Investors can bid for a minimum of 67 shares, with the company aiming to list on both BSE and NSE by June 25, 2025. The proceeds are primarily earmarked for debt repayment (₹204.60 Cr), funding working capital (₹177.00 Cr for the company and ₹48.00 Cr for its subsidiary Buildmex-Infra), and general corporate purposes.
Indian Construction Materials Market Overview
- Market Size & Growth Trajectory: The Indian construction materials market is a colossal sector, estimated at USD 39.38 billion in 2023. It is projected to reach USD 77 billion by 2035, indicating a robust CAGR of approximately 5.888% from 2025-2035. This substantial growth is fueled by ambitious national development goals.
- Overall Construction Industry Outlook: The broader Indian construction market, including all activities, was valued at USD 1.04 trillion in 2024. Forecasts suggest it will nearly double to USD 2.13 trillion by 2030, with a higher CAGR of 12.1% from 2025-2030. This makes it one of the fastest-growing construction markets globally.
- Key Growth Drivers: Government Push: Massive government investment in infrastructure is a primary catalyst. Initiatives like the National Infrastructure Pipeline (NIP), Bharatmala Pariyojana, Sagarmala, and the Smart Cities Mission are driving demand for materials for roads, railways, ports, airports, and urban development.
- Key Growth Drivers: Urbanization & Housing: Rapid urbanization, with 600 million people expected in urban areas by 2031, directly fuels demand for residential and commercial construction. Programs like Pradhan Mantri Awas Yojana (PMAY) aim to build millions of affordable homes, creating consistent material demand.
- Key Segments Driving Demand: Core segments like cement, aggregates (sand, gravel, crushed stone), and steel are foundational and will continue to see strong demand. Emerging areas like ready-mix concrete (RMC), prefabricated elements, and sustainable building materials (e.g., fly ash bricks) are also experiencing significant growth.
- Traditional Industry Characteristics: Fragmentation: Historically, the Indian construction materials supply chain has been highly fragmented and unorganized. This means it’s characterized by numerous small players, lack of standardization, and reliance on traditional, often opaque, trading methods.
- Challenges: Supply Chain Inefficiencies: The fragmented nature leads to major inefficiencies. These include delayed deliveries, inconsistent material quality, price opacity, complex logistics, and difficulty in managing credit and payments across a vast network of suppliers and buyers.
- Challenges: Infrastructure & Regulatory Hurdles: Despite improvements, inadequate transportation networks, outdated warehousing, and complex regulatory frameworks continue to pose challenges, leading to project delays and increased costs. Land acquisition also remains a significant hurdle.
- Challenges: Volatility & Competition: The industry is susceptible to volatility in raw material prices (e.g., steel, cement). While unorganized, the market is also highly competitive, making it challenging for smaller players to maintain margins and ensure consistent supply.
- Challenges: Skilled Labor Shortage: A persistent problem is the shortage of skilled labor across the construction value chain. This affects project execution, quality control, and the adoption of modern construction techniques.
- Opportunity: Digital Transformation (Arisinfra’s Role): The biggest opportunity lies in digitalization. Platforms like Arisinfra Solutions leverage technology to bridge the gaps in the unorganized market. They aim to provide:
- Real-time quotes and transparent pricing.
- Streamlined procurement workflows.
- Efficient logistics and delivery management.
- Data-driven credit risk analysis.
- Impact of Technology: The adoption of technologies like Building Information Modeling (BIM), AI, IoT, and data analytics is transforming the sector. These tools enhance project planning, improve communication between stakeholders, enable predictive maintenance, and overall boost efficiency and cost-effectiveness.
- Competitive Landscape in B2B Tech: Arisinfra operates in a burgeoning B2B construction tech space alongside players like Infra.Market, OfBusiness, Moglix, and Zetwerk. These platforms are all vying to digitize the procurement and supply chain, indicating a recognition of the massive market opportunity.
- Future Outlook (5-10 Years): Digitization & Consolidation: Over the next 5-10 years, the industry is expected to witness continued strong growth driven by infrastructure spending. There will be an accelerated shift towards digital platforms as businesses seek greater efficiency and transparency. This will likely lead to further consolidation as organized, tech-enabled players gain market share over traditional, unorganized channels.
- Future Outlook (5-10 Years): Sustainability & New Materials: There will be a growing emphasis on sustainable and green building practices, driven by environmental concerns and government regulations. This will lead to increased demand for eco-friendly materials and innovative construction techniques, opening new market segments.
Peer Analysis: Arisinfra Solutions vs. Top Indian B2B Tech Platforms
Primary Business Focus:
Arisinfra Solutions Limited: B2B tech platform for construction materials procurement (aggregates, RMC, steel, cement).
Infra.Market: B2B infrastructure marketplace for construction products, including private labels; also D2R.
OfBusiness: SME financing and raw material procurement across diverse sectors (steel, agri, petro, chemicals).
Moglix: B2B marketplace for MRO (Maintenance, Repair, Operations) and a wide range of industrial goods.
Zetwerk: B2B marketplace for custom manufacturing services and industrial components.
Birla Pivot: Corporate-backed B2B e-commerce platform for construction materials (cement, steel, plywood, sanitaryware, tiles).
Summary: Arisinfra, Infra.Market, and Birla Pivot focus on construction materials, while others have broader industrial/manufacturing procurement scopes, showcasing diverse B2B digitalization strategies.
Latest Annual Revenue (₹ Crores):
Arisinfra Solutions Limited: ₹702.36 Cr (FY24)
Infra.Market: ₹11,890.83 Cr (FY23)
OfBusiness: >₹19,000 Cr (FY24)
Moglix: ₹4,740 Cr (FY24)
Zetwerk: ₹11,595.93 Cr (FY23)
Birla Pivot: >₹1,000 Cr (within first year, Apr 2024); ₹5,000 Cr ARR (Q4 FY25)
Summary: Arisinfra is significantly smaller by revenue than established peers like OfBusiness, Infra.Market, and Zetwerk. Moglix is also larger. Birla Pivot, though newer, is rapidly scaling due to corporate backing.
Latest Annual Profitability (PAT, ₹ Crores):
Arisinfra Solutions Limited: (₹17.30 Cr) Loss (FY24); ₹6.53 Cr Profit (9M FY25) – Recent turnaround to profitability.
Infra.Market: ₹155.28 Cr Profit (FY23)
OfBusiness: Reported robust profit (FY22); consistently profitable.
Moglix: Profitability implied through client cost reduction; specific PAT not consistently available.
Zetwerk: (₹108.77 Cr) Loss (FY23)
Birla Pivot: Profitability not explicitly stated (likely in investment phase).
Summary: Arisinfra recently achieved profitability, while Infra.Market and OfBusiness show consistent profits at a larger scale. Zetwerk, like Arisinfra’s past, reported losses, common for scaling B2B tech firms.
Funding/Valuation:
Arisinfra Solutions Limited: ~$25.3M (Series A) / Post-IPO MCAP ~₹1,799 Cr (~$215M)
Infra.Market: ~$600M (Series F) / ~$2.8B Valuation
OfBusiness: “Billion-dollar enterprise” (Unicorn status, highly funded)
Moglix: ~$471M (Series F) / ~$2.51B Valuation (Feb 2022)
Zetwerk: ~$810M (Series F) / Unicorn status
Birla Pivot: Backed by Aditya Birla Group (corporate funding).
Summary: Arisinfra is at an earlier funding and valuation stage compared to its unicorn peers, indicating smaller current scale but significant growth potential.
Geographic Reach:
Arisinfra Solutions Limited: India (18+ states, 1,075 pincodes).
Infra.Market: Pan-India; global aspirations.
OfBusiness: Primarily India-focused; serves 30+ countries.
Moglix: Pan-India; growing international footprint (UAE, Singapore).
Zetwerk: Operates in 15+ countries; global supply network.
Birla Pivot: Delivers to 200 cities across 25 states in India.
Summary: Most peers, including Arisinfra and Birla Pivot, have strong pan-India coverage, with larger players expanding globally for sourcing or specific product categories.
Key Technological Approach:
Arisinfra Solutions Limited: AI/ML for demand/supply matching, proprietary delivery management (ArisDelivery), data-driven credit risk.
Infra.Market: Private label branding, end-to-end digital procurement, D2R integration.
OfBusiness: Proprietary algorithms for SME financial profiling, integrated digital commerce and lending.
Moglix: Advanced algorithms, big data analytics, cloud tech for MRO procurement.
Zetwerk: AI-powered recommendations for custom manufacturing, digital infrastructure for supply chain transparency.
Birla Pivot: Leverages technology for efficient construction materials solutions.
Summary: All peers are tech-driven, using data, AI/ML, and digital platforms for efficiency. Arisinfra focuses on construction material flow, OfBusiness integrates finance, and Zetwerk specializes in custom manufacturing.
Business Model Differentiator:
Arisinfra Solutions Limited: Pure-play, tech-enabled platform for core construction materials, tackling fragmentation.
Infra.Market: Marketplace plus strong private label manufacturing for construction products.
OfBusiness: Unique blend of B2B e-commerce for raw materials with integrated supply chain financing and lending.
Moglix: Specializes in indirect MRO, offering a vast catalog and value-added services.
Zetwerk: Facilitates complex global custom manufacturing projects.
Birla Pivot: Leverages Aditya Birla Group’s backing for significant capital and market access in construction materials.
Summary: Each company has a distinct niche: Arisinfra a focused construction tech platform, Infra.Market with private labels, OfBusiness with finance integration, Moglix in MRO, Zetwerk in custom manufacturing, and Birla Pivot benefiting from corporate backing.
Arisinfra Solutions IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not less than 75% of the Issue |
| Retail Shares Offered | Not more than 10% of the Issue |
| NII (HNI) Shares Offered | Not more than 15% of the Issue |
Arisinfra Solutions IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 67 | ₹14,874 |
| Retail (Max) | 13 | 871 | ₹1,93,362 |
| S-HNI (Min) | 14 | 938 | ₹2,08,236 |
| S-HNI (Max) | 67 | 4,489 | ₹9,96,558 |
| B-HNI (Min) | 68 | 4,556 | ₹10,11,432 |
Financials of Arisinfra Solutions
Arisinfra Solutions Limited Financial Performance
Revenue Trend (₹ Crore)
Profit After Tax Trend (₹ Crore)
Assets vs. Total Borrowings (₹ Crore)
| Period Ended | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 586.56 | 492.83 | 394.95 | 334.22 |
| Revenue | 557.76 | 702.36 | 754.44 | 453.77 |
| Profit After Tax | 6.53 | -17.30 | -15.39 | -6.49 |
| Net Worth | 152.09 | 141.60 | 104.94 | 140.30 |
| Reserves and Surplus | 141.10 | 139.77 | -41.36 | -6.01 |
| Total Borrowing | 322.82 | 273.98 | 220.35 | 154.25 |
Assets: The company’s Total Assets have shown strong growth, increasing from ₹334.22 crore at Period Ended 31 March 2022 to ₹586.56 crore at Period Ended 31 December 2024. This steady expansion indicates continued investment in the company’s operational capacity.
Revenue: Revenue from operations has seen significant fluctuations, initially growing from ₹453.77 crore at Period Ended 31 March 2022 to a peak of ₹754.44 crore in FY2023. It then decreased to ₹702.36 crore in FY2024 and stood at ₹557.76 crore for the nine months ending 31 December 2024.
Profit After Tax (PAT): Profit After Tax marks a critical turnaround. The company recorded losses of ₹6.49 crore (FY22), ₹15.39 crore (FY23), and ₹17.30 crore (FY24). However, in a significant positive shift, Arisinfra reported a profit of ₹6.53 crore for the nine months ending 31 December 2024, signaling improving financial health.
Net Worth: The company’s Net Worth experienced a dip from ₹140.30 crore at Period Ended 31 March 2022 to ₹104.94 crore in FY2023, but has since recovered robustly to ₹152.09 crore by 31 December 2024. This recovery aligns with its recent profitability.
Reserves and Surplus: Reserves and Surplus also reflect this positive trajectory. After being in a negative position in earlier periods (e.g., ₹-6.01 crore in FY22 and ₹-41.36 crore in FY23), this key component of Net Worth has turned positive, reaching ₹139.77 crore in FY24 and ₹141.10 crore by 31 December 2024, demonstrating improved profit retention.
Total Borrowings: Total Borrowings have shown a consistent upward trend, increasing from ₹154.25 crore at Period Ended 31 March 2022 to ₹322.82 crore by 31 December 2024. This indicates the company has been taking on more debt to finance its expansion and operational needs.
Objective of Arisinfra Solutions IPO
The funds raised from the IPO are intended for several key purposes:
- ₹204.60 Crores will be used for the repayment or prepayment of existing borrowings, aiming to strengthen the company’s balance sheet and reduce interest costs.
- ₹177.00 Crores will be allocated to meet the company’s working capital requirements to support its operational growth.
- ₹48.00 Crores will be invested in its subsidiary, Buildmex-Infra Private Limited, to support its working capital needs.
- The remaining funds will be utilized for general corporate purposes, which may include strategic initiatives like potential inorganic acquisitions.
Promoter Share Holding Pattern
Arisinfra Solutions Limited’s pre-IPO equity is predominantly held by Promoters and Promoter Group (51.67%) and Non-Promoter-Non-Public shareholders (47.49%). The IPO is a 100% Fresh Issue, meaning no existing shareholders are selling. This fresh issue will dilute current holdings.
Key Holders & Their Pre-IPO Percentages:
- Promoters & Promoter Group (51.67%):
- Promoters (41.10%): Ronak Kishor Morbia (11.01%), Bhavik Jayesh Khara (7.56%), Siddharth Bhaskar Shah, Jasmine Bhaskar Shah, Priyanka Bhaskar Shah, Bhaskar Shah.
- Promoter Group Trusts (10.57%): Aspire Family Trust (11.99%), Priyanka Shah Family Trust (7.30%).
- Non-Promoter-Non-Public (47.49%):
- Notable investors include Kedar Shivanand Mankekar (9.59%), Think Investments PCC (8.07%), and Siddhant Partners (6.35%).
Legal Issues
I. Cases Involving Arisinfra Solutions Limited:
- 94 Cheque Dishonor Cases (Sec. 138 NI Act): Pending, seeking ₹241.52 million.
- 15 Criminal Complaints: Pending, alleging cheating/misappropriation (various values from ₹0.63 million to ₹14.50 million).
- 1 Conviction under Sec. 138 NI Act: Against Subh Nirmaan Works LLP (₹1.51 million), currently in appeal.
- 1 Labour Dispute: Pending notice from Deputy Labour Commissioner.
- 3 IBC Applications (as creditor): Pending, seeking ₹32.94 million (Kamar Infrastructure), ₹13.99 million (Rajkeshariprojects – subject to ₹10.40 million settlement, defaulted on tranche), and another where the outcome is not explicitly stated.
- 1 Arbitration Application (as applicant): Pending, seeking ₹12.91 million against M/s. Kartikeya Construction.
- 1 IBC Application (against company): Pending, seeking ₹10.89 million by Oceanic Trade Minerals Private Limited.
- 4 Indirect Tax Cases: Pending, demanding ₹24.23 million and ₹19.73 million.
II. Cases Involving Promoters:
- Siddharth Bhaskar Shah:
- 1 Consumer Protection Notice: Pending, regarding alleged deceptive practices by Axelia Solutions Private Limited (PharmEasy).
- 2 Direct Tax Notices: Pending, concerning property purchases of ₹200.06 million and ₹399.68 million.
III. Cases Involving Subsidiaries:
- Buildmex-Infra Private Limited:
- 8 Cheque Dishonor Cases (Sec. 138 NI Act): Pending, seeking ₹12.98 million.
- 2 Criminal Complaints: Pending, alleging cheating/misappropriation (totaling ₹5.10 million).
- ArisUnitern Re Solutions Private Limited:
- 4 Cheque Dishonor Cases (Sec. 138 NI Act): Pending, seeking ₹45.56 million.
- 1 GST Evasion Notice: Pending.
- 1 IBC Application (as creditor): Pending, seeking ₹28.98 million against Ultra Bright Realty Private Limited.
- 3 Indirect Tax Cases: Pending, demanding ₹0.35 million.
IV. Cases Involving Key Managerial Personnel (KMP):
- Srinivasan Gopalan (CEO):
- 1 Criminal FIR: Pending, alleging misappropriation of funds; investigation stayed by High Court.
As per information available on RHP of Arisinfra Solutions
FAQ about Company
The Arisinfra Solutions IPO opens on Tuesday, June 18, 2025.
The Arisinfra Solutions IPO closes on Thursday, June 20, 2025.
The price band for the Arisinfra Solutions IPO is ₹210 to ₹222 per equity share.
The minimum lot size for the Arisinfra Solutions IPO application is 67 shares.
The tentative listing date for Arisinfra Solutions IPO is Sunday, June 25, 2025, on BSE and NSE.
The tentative allotment finalization date for Arisinfra Solutions IPO is Friday, June 23, 2025.
The total issue size of the Arisinfra Solutions IPO is ₹499.60 Crores, consisting entirely of a fresh issue.
The current Grey Market Premium (GMP) for Arisinfra Solutions IPO is ₹25.
The face value of each equity share is ₹2.
Arisinfra Solutions Limited operates a B2B technology platform focused on streamlining and digitizing the procurement and supply chain of construction materials in India.
The main promoters include Ronak Kishor Morbia, Bhavik Jayesh Khara, Siddharth Bhaskar Shah, Jasmine Bhaskar Shah, Priyanka Bhaskar Shah, Bhaskar Shah, Aspire Family Trust, and Priyanka Shah Family Trust.
Arisinfra Solutions recently turned profitable, reporting a Profit After Tax of ₹6.53 crore for the nine months ended December 31, 2024, after incurring losses in previous fiscal years.
No, the Arisinfra Solutions IPO is a 100% Fresh Issue, meaning there is no Offer for Sale component from existing shareholders.
