ArisInfra Solutions Ltd. has submitted preliminary documents with capital markets regulator SEBI to raise Rs 600 crore via an initial public offering. The planned IPO consists entirely of a fresh issue of equity shares and does not include an offer-for-sale component, as per the draft red herring prospectus.
The Mumbai-based company plans to mop-up about Rs 120 crore through a pre-IPO placement. If such placement is undertaken, the amount raised will be deducted from the total IPO size.
Proceeds of the issue will be used for funding the working-capital requirements of the company, investment in subsidiary, Buildmex-Infra, for funding its working capital, purchase of partial shareholding from existing shareholders of its subsidiary, ArisUnitern Re Solutions Pvt., repayment of loan and for general corporate purposes.
ArisInfra Solutions is a B2B company leveraging technology to streamline and digitise the procurement of construction materials. From April 1, 2021, to March 31, 2024, the firm has supplied 10.35 million tonnes of construction materials.
This includes aggregates, ready-mix concrete, steel, cement, construction chemicals, and walling solutions, working with 1,458 vendors to serve 2,133 customers across 963 pin codes in various cities.
JM Financial, IIFL Securities and Nuvama are the book running lead managers to the public issue.
(With inputs from PTI)
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