ArisInfra Solutions has submitted a draft red herring prospectus to SEBI to raise ₹600 crore through an initial public offering (IPO). The IPO will feature a fresh issue of shares without any offer-for-sale component.
The company is considering a pre-IPO placement to raise an additional ₹120 crore before filing the Red Herring Prospectus with the ROC; this amount will be deducted from the public issue if completed.
ArisInfra’s customer base grew from 431 to 2,133, and vendor numbers rose from 441 to 1,458 from March 2022 to March 2024. The company delivered 10.35 million metric tonnes of construction materials, including aggregates, ready-mix concrete, and steel, from April 2021 to March 2024.
Out of the IPO proceeds, ₹204.6 crore will be allocated for debt repayment, reducing the total debt of ₹268.5 crore as of May 2024.
Additional funds will be used for working capital (₹177 crore), subsidiary Buildmex-Infra’s working capital (₹48 crore), and ArisUnitern Re Solutions share purchases (₹20.4 crore).
The company reported a net loss of ₹17.3 crore for the fiscal year 2024, increasing from a ₹15.4 crore loss the previous year, with revenues dropping to ₹696.8 crore from ₹746 crore. JM Financial, IIFL Capital Services, and Nuvama Wealth Management are appointed as merchant bankers for the IPO.
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