Arisinfra Solutions Limited has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI). The company aims to raise up to ₹600 crore through this initial public offering, which comprises solely a fresh issue of equity shares with a face value of ₹2 each.
The company plans to use the net proceeds for the following purposes: (i) Repayment or partial repayment of certain outstanding borrowings, estimated at ₹204.60 crore; (ii) Funding the company’s working capital requirements, estimated at ₹177 crore; (iii) Investment in its subsidiary, Buildmex-Infra Private Limited, to support its working capital needs, estimated at ₹48 crore; (iv) Purchase of shares from existing shareholders of its subsidiary, ArisUnitern Re Solutions Private Limited (formerly ArisUnitern Private Limited), estimated at ₹20.40 crore; and the remaining funds will be allocated for general corporate purposes and potential unidentified inorganic acquisitions.
Among the prominent investors are Siddharth Shah, co-founder of Pharmeasy, who holds a 1.4% stake, equating to 775,320 equity shares in the company. The promoter group comprises Siddharth Shah, Ronak Kishor Morbia, Bhavik Jayesh Khara, Jasmine Bhaskar Shah, Priyanka Bhaskar Shah, Bhaskar Shah, and the Priyanka Shah Family Trust. Other key stakeholders include Aspire Family Trust, Think Investments PCC, and Zen Assets Trust.
JM Financial Limited, IIFL Securities Limited, and Nuvama Wealth Management Limited (previously Edelweiss Securities Limited) are the lead managers for the issue.
About the company
Arisinfra Solutions Limited utilizes both technology and human expertise to optimize and oversee the procurement, sales, and delivery of construction materials. The company combines advanced technology with professional insight to simplify the process of acquiring bulk construction materials.
By leveraging its network of vendors, Arisinfra sources and supplies construction materials to real estate and infrastructure developers and contractors, aiming to be a comprehensive solution for all their material needs.