Arisinfra Solutions Limited (“ASL” or “The Company”) has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”).
The Company is a business-to-business (“B2B”) technology-enabled company focusing on simplifying and digitizing the entire procurement process for construction materials, delivering an efficient end-to-end procurement experience.
The Company plans to raise funds aggregating up to ₹ 6,000 million [ ₹ 600 crore] through initial public offering of Equity Share Capital face value ₹ 2 each. (The “Total Issue Size”). The total issue size comprises of fresh issue of Equity Shares aggregating up to ₹ 6,000 million [₹ 600 crore]. (The “Fresh Issue”)
The Company proposes to utilize the net proceeds towards – (i) Repayment / prepayment, in full or part, of certain outstanding borrowings availed by the Company estimated to be ₹ 2,046 million [₹ 204.60 crore]; (ii) Funding the working capital requirements of the Company estimated to be ₹ 1,770 million [₹ 177 crore]; (iii) Investment in its Subsidiary, Buildmex-Infra Private Limited (“Buildmex”), for funding its working capital requirements estimated to be ₹ 480 million [₹ 48 crore]; (iv) Purchase of partial shareholding from existing shareholders of its Subsidiary, ArisUnitern Re Solutions Private Limited (formerly ArisUnitern Private Limited) estimated to be ₹ 204 million [₹ 20.40 crore] and balance amount towards general corporate purposes and unidentified inorganic acquisitions. (The “Objects of the Issue”)
JM Financial Limited, IIFL Securities Limited and Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) are the Book Running Lead Managers to the issue. (The “BRLMs”)
Please find the below the link to download the DRHP:
