The Indian IPO market in June 2025 has come alive with a strong list of public issues opening between June 18 and June 26. This period brings a balanced mix of mainboard IPOs and SME IPOs, offering multiple opportunities to investors ranging from aggressive short-term traders to long-term value seekers.

This extensive analysis dives into each IPO in detail — business fundamentals, financial strength, grey market premium, subscription trends, risks, and most importantly, the key benefits buyers gain by participating.

IPO Calendar: June 18–26, 2025

1. ArisInfra Solutions Ltd. (Mainboard IPO)

Sector: Digital B2B Construction Procurement
Lot Size: 67 shares
Grey Market Premium (GMP): ₹25–₹40 (11%–18%)

Business Model

ArisInfra operates a tech-driven platform that simplifies procurement for India’s highly fragmented construction sector. By aggregating suppliers and digitizing procurement, ArisInfra removes multiple inefficiencies and price opacity from the traditional construction supply chain.

• Vendor network: Over 1,400 suppliers

• Client network: Over 2,100 customers

• Total materials handled: Over 10.35 million metric tonnes

The company’s model allows bulk procurement of cement, steel, and other materials across real estate and infrastructure projects.

Financial Highlights (FY24)

• Revenue: ₹702 crore

• Net Loss: ₹17.3 crore (narrowing loss)

• EBITDA Margins: Expanding as scale improves

While ArisInfra is yet to report profits, its strong revenue growth suggests imminent breakeven as operational leverage kicks in.

IPO Objectives

• Debt repayment

• Working capital enhancement

• Platform upgrades

• Geographic expansion

Insider Highlights

• Promoters hold 41% pre-IPO.

• Prominent early investors include the PharmEasy co-founder.

• 100% fresh issue (no OFS), ensuring capital infusion directly supports business growth.

Advantages for Buyers

Strong listing gains: GMP points to possible 11–18% upside on listing day.
Digital sector leadership: First-mover advantage in a fragmented B2B sector valued at ₹6–8 lakh crore.
Institutional interest: Strong anchor book participation hints at high institutional confidence.
Debt-free growth: Post-IPO, company deleverages significantly, improving financial flexibility.

Risks

• Execution risks in scaling platform profitability.

• Dependent on expanding vendor and client ecosystem.

• No listed peers yet for valuation benchmarking.

Verdict

ArisInfra is the most promising IPO of June 2025, offering both immediate listing gains and long-term disruptive potential.

Recommendation: Strong Buy

2. Influx Healthtech Ltd. (SME IPO)

Sector: Contract Development and Manufacturing (CDMO) in Nutraceuticals
Lot Size: 1,200 shares
GMP: ₹20–₹30 (22%–33% expected listing gains)

Business Model

Influx Healthtech is a young CDMO engaged in manufacturing nutraceuticals, cosmetics, veterinary products, and homecare items. As India’s health consciousness grows, CDMOs are well-positioned to benefit from outsourcing trends.

• 93% capacity utilization

• Scalable, asset-light business model

• B2B revenue model

Financial Highlights (FY25 Estimate)

• Revenue: ₹105 crore

• Net Profit: ₹13 crore

• Profit growth: 30%–40% CAGR

IPO Objectives

• Working capital support

• Technology investment

• Business expansion

• Debt reduction

Insider Highlights

• Mix of fresh issue and OFS.

• Low leverage enhances financial stability.

• Management is focused on diversifying the customer base.

Advantages for Buyers

Strong listing gains: Grey market suggests 22%–33% upside on listing day.
High-growth sector: Rising demand for nutraceuticals offers continued business tailwinds.
Early-stage growth: Entry opportunity into India’s growing private-label and CDMO space.
Strong cash flows: Profitable from inception, maintaining lean operations.

Risks

• SME scale limitations.

• Customer concentration.

• Competitive pressure in low-entry barrier industries.

Verdict

Ideal for short-term listing gains. For long-term holds, suitable for high-risk investors confident in CDMO scalability.

Recommendation: Short-term Buy

3. Globe Civil Projects Ltd. (Mainboard IPO)

Sector: Infrastructure & Civil Construction
Lot Size: 211 shares
GMP: Yet to be active

Business Model

Globe Civil Projects is engaged in EPC contracts across roads, bridges, and large-scale civil works for both government and private entities. The company has executed projects in 11 Indian states, steadily growing its presence.

Financial Highlights (FY24 & FY25)

• Revenue FY24: ₹334.8 crore (42% YoY growth)

• PAT FY24: ₹15.4 crore

• PAT (9M FY25): ₹17.8 crore

• Order Book: ₹893 crore

• ROE: 19.8%

• ROCE: 23%

• Debt-to-Equity Ratio: 1.6x

IPO Objectives

• Working capital needs

• Debt repayment

• Business expansion

Insider Highlights

• 88% promoter holding retained post-IPO.

• Entire issue is fresh capital (no OFS).

Advantages for Buyers

Revenue stability: Order book supports revenue for next 2–3 years.
Healthy returns: High ROE and ROCE metrics signal efficient operations.
Infra sector exposure: Positive long-term play on India’s infrastructure boom.
Institutional-grade business: Transparent governance; no promoter dilution.

Risks

• Debt levels need monitoring.

• Government project delays may affect cash flows.

• Execution remains key in EPC sector.

Verdict

Attractive for long-term infrastructure investors. Conservative listing gains are possible but better viewed as a multi-year investment.

Recommendation: Long-term Buy

4. Other SME IPOs: High-Risk Zone

Mayasheel Ventures Ltd.

• Offer Period: 20–24 June 2025

• Price Band: ₹44–₹47

• Verdict: Avoid due to limited public data.

Safe Enterprises Retail Fixtures Ltd.

• Offer Period: 20–24 June 2025

• Price Band: ₹131–₹138

• Verdict: Await business model clarity before investment.

AJC Jewel Manufacturers Ltd.

• Offer Period: 23–26 June 2025

• Price Band: ₹90–₹95

• Verdict: Highly speculative; avoid unless strong financials emerge.

Key Advantages Investors Get in These IPOs

Immediate Listing Gains

• ArisInfra offers 11–18% potential gains.

• Influx Healthtech offers 22–33% gains.

• Globe Civil may offer modest upside based on order book confidence.

Sectoral Exposure Benefits

• ArisInfra: Disruptive tech-enabled construction procurement.

• Influx Healthtech: Early access to India’s fast-growing wellness industry.

• Globe Civil: Play on long-term government infrastructure spending.

Access to High-Growth Companies

Investors gain early ownership in companies poised for long-term growth through scalable business models, recurring demand, and institutional-grade management.

Lower Debt Exposure Post-IPO

Most IPOs (ArisInfra, Influx, Globe Civil) are using funds to retire debt, improving balance sheets from Day 1.

Institutional Quality Governance

• No promoter exits in ArisInfra and Globe Civil.

• Transparent financial reporting.

• Strong anchor interest indicates institutional validation.

Insider Observations

• ArisInfra’s backing from PharmEasy co-founder signals robust leadership vision.

• Influx Healthtech’s profitability track gives it strong financial credibility despite SME status.

• Globe Civil’s fast-growing order book is supported by India’s public capex boom.

Risks Investors Should Know

Comprehensive Verdict

IPO Investment Strategy for June 2025

For Conservative Investors:
Apply in ArisInfra and Globe Civil for solid long-term wealth creation.

For Aggressive Investors:
Apply for Influx Healthtech for superior listing gains but exit early to avoid SME liquidity risks.

For Institutional Investors:
Mainboard IPOs are more appropriate with better governance, post-listing liquidity, and scalability.

For First-Time Investors:
Prioritize mainboard IPOs due to transparency, anchor subscriptions, and better post-listing stability.

Long-Term Outlook by Sector

Construction Tech (ArisInfra)

• Government’s infrastructure spending plan supports long-term procurement growth.

• Real estate sector revival opens large-scale B2B procurement needs.

• Minimal competition in tech-driven procurement platforms.

Nutraceutical CDMO (Influx Healthtech)

• India’s ₹20,000 crore nutraceutical industry expanding at 15–20% CAGR.

• Increasing global outsourcing to Indian CDMOs supports export potential.

• Rising lifestyle diseases support consistent demand.

Infrastructure EPC (Globe Civil)

• Government focus on ₹100 lakh crore National Infrastructure Pipeline.

• Policy thrust on transportation, roads, and bridges provides sustained order visibility.

• EPC companies benefit from recurring government tenders.

Final Takeaway

June 2025 is one of the most vibrant IPO windows in India post-pandemic, offering opportunities across disruptive tech, health manufacturing, and infrastructure segments. ArisInfra leads with a strong digital procurement model, Influx Healthtech offers attractive short-term listing gains, while Globe Civil Projects provides long-term stability backed by the government’s capex cycle.

While SME IPOs have speculative appeal, the best approach remains cautious participation focused on fundamentally strong businesses with proven financial records.

For complete IPO application details, prospectuses, subscription updates, and live data, visit:
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