ArisInfra Solutions files draft papers with SEBI for Rs 600-crore IPO

Leading infrastructure development firm Arisinfra specializes in developing creative and sustainable solutions for a range of industries, including urban development, energy, water, and transportation. Arisinfra has made a name for itself as a reliable partner for organizations, governments, and communities worldwide by placing a heavy emphasis on efficiency, quality, and environmental responsibility. In addition to meeting the demands of the present, their team of experts is committed to delivering projects that foresee future challenges. Arisinfra guarantees that its infrastructure projects are finished on schedule and within budget by utilizing state-of-the-art technology and project management best practices. They work together and communicate openly to develop infrastructure that improves quality of life, fosters economic development, and safeguards the environment.

The IPO is filed by ArisInfra Solutions:

A draft red herring prospectus for ArisInfra Solutions’ IPO to raise Rs. 600 crore has been filed with SEBI. A new share issue without an offer to sell will be part of the initial public offering (IPO). In order to obtain an extra Rs. 120 crore before submitting the Red Herring Prospectus to the ROC, the company is thinking about doing a pre-IPO placement. If successful, this money will be subtracted from the public offering.

The customer base of ArisInfra increased from 431 to 2,133, while the number of vendors increased from 441 to 1,458 between March 2022 and March 2024. From April 2021 through March 2024, the company supplied 10.35 million metric tonnes of steel, ready-mix concrete, and aggregates. For the IPO, JM Financial, IIFL Securities, and Nuvama Wealth Management have been designated as merchant bankers.

IPO fund utilization by ArisINfra Solutions:

The proceeds from the initial public offering (IPO) will be used to reduce the debt, which stood at Rs. 268.5 crore as of May 2024, by Rs. 204.6 crore. Further funding will be used for the following: the purchase of Rs. 20.4 crore worth of shares in ArisUnitern Re Solutions, Rs. 48 crore worth of working capital for the subsidiary Buildmex-Infra, and Rs. 177 crore worth of working capital overall.

ArisINfra Solutions performance:

In the fiscal year 2024, the company recorded a net loss of Rs. 17.3 crore, up from the previous year’s loss of Rs. 15.4 crore. Revenue decreased to Rs. 696.8 crore from Rs. 746 crore. 

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Conclusion: ArisINfra Solutions is raising money through an initial public offering (IPO) to pay down debt and for working capital.