Technology-driven construction material provider ArisInfra Solutions Ltd has mobilised Rs 80 crore in a pre-IPO funding round.
A Pre-IPO Placement was undertaken in consultation with the BRLMs, for an amount aggregating to Rs 800.04 million. Pursuant to the resolutions of the Board and the Shareholders, each dated January 17, 2025, Company approved the Pre-IPO Placement of 36,03,792 Equity Shares for cash at a price of Rs 222 per Equity Share (including a premium of Rs 220 per Equity Share) aggregating to Rs 800.04 million.
Those who participated in the funding round included Cognizant Capital Dynamic Opportunities Fund, JVS Holdings LLP, and Lamha Enterprise LLP.
With this, the IPO size has been reduced to Rs 499.6 crore from Rs 579.6 crore planned earlier.
In August 2024, ArisInfra Solutions filed draft papers with capital markets regulator Sebi to raise Rs 600 crore through an initial public offering (IPO). In November last year, the company filed an addendum to the draft papers revising its IPO size to Rs 579.6 crore.
The Mumbai-based company's proposed IPO is completely a fresh issue of equity shares with no offer for sale (OFS) component.
Proceeds of the issue will be used for funding the working capital requirements of the company, investment in its subsidiary, Buildmex-Infra, for funding its working capital, repayment of loan and general corporate purposes.
Arisinfra Solutions is a B2B technology-enabled company, focusing on simplifying and digitising the procurement process for construction materials.
Between April 1, 2021, and March 31, 2024, the company delivered 10.35 million metric tonnes of construction materials, including aggregates, ready-mix concrete, steel, cement, construction chemicals and walling solutions, utilising 1,458 vendors and serving 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.
