Arisinfra Solutions share price: The stock's debut price missed the grey market estimates. Ahead of listing, the unlisted shares were trading flat with 0% GMP over its IPO price at Rs 222 in the grey market.

The shares of Arisinfra Solutions listed at Rs 205 apiece on NSE, thereby making a weak debut on the stock market on June 25. The shares were listed at a discount of nearly 8 percent from its IPO price of Rs 222 apiece.

On BSE, the shares of the company were listed at a discount of nearly 6 percent at Rs 209 apiece.

The stock's debut price missed the grey market estimates. Ahead of listing, the unlisted shares of the company were trading flat with zero grey market premium (GMP) over its IPO price at Rs 222 in the grey market, according to Investorgain.

The company had launched its IPO to raise up to Rs 500 crore through a fresh issue of equity shares, and no offer for sale (OFS) component, at a price band of Rs 210-222 per share. Investors could apply for a minimum of 67 shares, and in multiples thereafter.

The maiden public issue of the company was subscribed 2.65 times within its three days of public bidding. 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.

Arisinfra Solutions is a B2B technology-enabled company, focusing on simplifying and digitising the procurement process for construction materials.

Bajaj Broking had advised investors to subscribe to the issue for the long term. It had however cautioned investors that the IPO was "aggressively" priced. "ASL is engaged in technology enabled B2B supplier for construction materials, that has growing market. It enjoys virtual monopoly in the segment and is most preferred partner in construction activities. It posted losses till FY24 and has just turned corner for 9M of FY25," it said.

"Based on latest working the issue is aggressively priced, and based on working till FY24, the P/E is negative. Well-informed/cash surplus investors may park moderate funds for long term, others may simply stay away from this pricey bet," the brokerage added.

Anand Rathi had advised investors to avoid the IPO as it appeared to be expensive. "On comparing financial performance of the Company, with similar players catering to different consumer segment, ArisInfra's initial offering at 48.3x annualized FY25 EV/EBITDA appears expensive to us," it said.