Arisinfra Solutions files draft papers with Sebi to raise Rs 600 crore via IPO

Pharmeasy cofounder Siddharth Shah & former CREDAI chairman Jaxay Shah (Savvy Developers)-backed Arisinfra Solutions has filed its draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) to raise funds through via initial public offering (IPO).
 

According to the draft papers, the Mumbai-based Arisinfra Solutions is planning to raise Rs 600 crore via its initial stake sale, which is entirely a fresh share sale. The company may consider a pre-IPO placement of Rs 120 crore, in consultation with the managers of the issue.
 

The net proceeds from the issue shall be utilized towards repayment/prepayment of certain outstanding borrowings; funding the working capital requirements; investment in its subsidiary, Buildmex-Infra; purchase of partial shareholding from existing shareholders of its Subsidiary- ArisUnitern Re Solutions; unidentified inorganic acquisitions; and general corporate purposes.
 

Arisinfra Solutions is a business-to-business (B2B) technology-enabled player, which aims to simplify and digitize the procurement process for construction materials. It has delivered 10.35 million metric tonnes of construction materials between April 1, 2021 and March 31, 2024.
 

Its customer base includes large real estate and infrastructure developers and contractors, including Capacit’e Infraprojects, J Kumar Infraprojects, Afcons Infrastructure, EMS, SP Singla Constructions, Real Gem Buildtech, Wadhwa Group, Puranik Builders, and more.
 

including aggregates, ready-mix concrete, steel, cement, construction chemicals and walling solutions, utilizing 1,458 vendors and serving 2,133 customers across 963 pin codes in various cities.
 

75 per cent of the net offer shall be reserved for qualified institutional bidders, while non-institutional investors will have 15 per cent of the reservation. Remaining 10 per cent shares shall be allocated to the retail investors of the issue.
 

JM Financial, IIFL Securities and Nuvama Wealth Management are the book running lead managers to the issue, while Link Intime India is the registrar for the issue. Shares of the company will be listed on both BSE and NSE.