Arisinfra Solutions Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) as it gears up for an initial public offering (IPO). The company aims to raise up to ₹600 crore through this IPO, which will involve issuing new equity shares with a face value of ₹2 each.
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Arisinfra Solutions : The funds raised from this offering will be used for several key purposes:
- Repaying or partially repaying outstanding borrowings, estimated at ₹204.60 crore.
- Supporting the company’s working capital needs, which are estimated to be ₹177 crore.
- Investing ₹48 crore in its subsidiary, Buildmex-Infra Private Limited, to help with its working capital requirements.
- Purchasing shares from existing shareholders of its subsidiary, ArisUnitern Re Solutions Private Limited (formerly ArisUnitern Private Limited), at an estimated cost of ₹20.40 crore.
- Allocating any remaining funds to general corporate purposes and potential future acquisitions.
Notable investors include Siddharth Shah, co-founder of Pharmeasy, who holds a 1.4% stake in the company, equivalent to 775,320 equity shares. The promoter group consists of 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.
The IPO will be managed by JM Financial Limited, IIFL Securities Limited, and Nuvama Wealth Management Limited (formerly Edelweiss Securities Limited) as the lead managers.
About Arisinfra Solutions Limited:
Arisinfra Solutions Limited combines advanced technology with human expertise to streamline the procurement, sales, and delivery of construction materials. The company provides a comprehensive solution by leveraging its extensive vendor network to source and supply materials to real estate and infrastructure developers and contractors. Its goal is to simplify the process of acquiring bulk construction materials and offer an efficient, tech-driven solution to meet the needs of the construction industry.
Frequently Asked Questions (FAQs) about Arisinfra Solutions Limited and its IPO
What is the purpose of Arisinfra Solutions Limited’s IPO?
The IPO aims to raise up to ₹600 crore to support several key initiatives, including repaying outstanding borrowings, funding working capital needs, investing in its subsidiary Buildmex-Infra Private Limited, purchasing shares from existing shareholders of its subsidiary ArisUnitern Re Solutions Private Limited, and covering general corporate expenses and potential acquisitions.
How will the funds from the IPO be allocated?
The funds will be used as follows: ₹204.60 crore for repaying or partially repaying borrowings, ₹177 crore for working capital, ₹48 crore for investing in Buildmex-Infra Private Limited, ₹20.40 crore for buying shares from ArisUnitern Re Solutions Private Limited’s shareholders, and the remainder for general corporate purposes and potential acquisitions.
Who are the major investors and stakeholders in Arisinfra Solutions Limited?
Major investors include Siddharth Shah, co-founder of Pharmeasy, who holds a 1.4% stake. The promoter group consists of 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 are Aspire Family Trust, Think Investments PCC, and Zen Assets Trust.
What are the lead managers for the IPO?
The IPO is managed by JM Financial Limited, IIFL Securities Limited, and Nuvama Wealth Management Limited (formerly Edelweiss Securities Limited) as the lead managers.
What does Arisinfra Solutions Limited do?
Arisinfra Solutions Limited specializes in optimizing and managing the procurement, sales, and delivery of construction materials. The company uses advanced technology and professional expertise to streamline the acquisition of bulk construction materials, serving real estate and infrastructure developers and contractors through its extensive network of vendors.
What is the face value of the equity shares being offered in the IPO?
The equity shares being offered in the IPO have a face value of ₹2 each.
When will Arisinfra Solutions Limited’s IPO open and close?
The IPO will open on August 16, 2024, and close on August 19, 2024. During this period, investors can place their bids for the shares.