18-Nov-2024
2 mins read
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Arisinfra Solutions Limited has filed its DRHP with SEBI to prepare for its upcoming public issue. This upcoming IPO is offering entirely a fresh issue of equity shares worth up to Rs 600 crores; the face value mentioned by the company in the DRHP is Rs 2 per share.
The total aggregate size of a public issue in rupees is up to Rs 600 crore, whereas the total no. of equity shares that will be issued by the company is not yet disclosed.
This IPO will follow the book-building process, with not less
than 75% of the offer reserved for Qualified Institutional Buyers (QIBs), not
more than 15% for Non-Institutional Investors (NIIs), and not more than 10% for
retail investors is reserved.
Arisinfra Solutions IPO open date and close date have not yet declared. The price band & lot size will be revealed soon by the company. The Shares to be offered through the Red Herring Prospectus are proposed by the company to be listed on the NSE and BSE.
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About Arisinfra Solutions Limited
Arisinfra Solutions Limited, incorporated in February 10, 2021, established in the growing construction materials market, is a B2B technology-enabled company focused on simplifying and digitizing the procurement process for construction materials. By blending technology and human expertise, the company provides end-to-end solutions for real estate and infrastructure developers, eliminating inefficiencies and intermediaries in the supply chain.
From April 1, 2021, to March 31, 2024, the company delivered 10.35 million metric tonnes (MT) of construction materials, including aggregates, ready-mix concrete (RMC), steel, cement, and construction chemicals, serving 2,133 customers across 963 pin codes with the support of 1,458 vendors. Its customer base includes prominent developers like Capacite Infraprojects, J Kumar Infraprojects, and Afcons Infrastructure, while its vendor network features manufacturers like G S Ispat and Bigbloc Building Elements.
Arisinfra Solutions IPO Objectives
The company proposes to utilize the fundings received from the fresh issue for several purposes, including repayment or prepayment, in full or part, of certain outstanding borrowings amounting to Rs 204.6 crore, funding the working capital requirements of the Company with Rs 177 crore, and investing Rs 48 crore in its subsidiary, Buildmex-Infra Private Limited, for fund its working capital needs. The remaining funds will be allocated toward general corporate purposes and unidentified inorganic acquisitions.
Arisinfra Solutions Limited Financials Performance
Arisinfra Solutions financials show good performance for the FY ended 2024, compared to FY 2023:
1. Assets increased from Rs 394.95 crores in March 2023 to Rs 492.83
crores in March 2024, a 24.78% increase.
2. Revenue decreased from Rs 746.07 crores to Rs 696.84 crores, a
-6.60% decrease.
3. Loss After Tax reported (15.39) for FY23 and (17.30) for FY24.
4. Total Borrowing increased from Rs 220.35 crores to Rs 273.98 crores, a 24.34% increase.
Lead manager(s) and Registrar of Arisinfra Solutions
IPO
The IPO is managed by JM Financial Limited, IIFL Securities Limited and Nuvama Wealth Management Limited, which is the book-running lead manager for this public issue. The company has appointed Link Intime India Private Limited as the registrar for this public issue.
Promoters of Arisinfra Solutions Limited
Ronak Kishor Morbia, Bhavik Jayesh Khara, Siddharth Bhaskar Shah, Jasmine Bhaskar Shah, Priyanka Bhaskar Shah, Bhaskar Shah, Aspire Family Trust and Priyanka Shah Family Trust identifiable promoter(s). They collectively hold 55.34% of the company's shares. However, post-IPO changes in their shareholding have not yet been disclosed in the Prospectus filed by the company with SEBI. To read the full DRHP, click here.