ArisInfra Solutions has received the Securities and Exchange Board of India’s (SEBI's) approval to raise Rs 600 crore through an initial public offering (IPO). The proposed IPO is entirely a fresh issue of equity shares and with no offer-for-sale (OFS) component. The company, which filed preliminary IPO papers with Sebi in August, obtained its observation on November 13, 2024.
The company plans to utilise proceeds of the issue for funding the working-capital requirements of the company, investment in subsidiary, Buildmex-Infra, repayment of loan and for general corporate purposes. JM Financial, IIFL Securities and Nuvama are the book running lead managers for the public issue.
ArisInfra Solutions is a business-to-business (B2B) company leveraging technology to streamline and digitise the procurement of construction materials.
| Company Name | CMP |
|---|---|
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| Adani Enterprises | 2088.20 |
| Amrapali Industries | 17.32 |
| Rashi Peripheral | 404.30 |
| PDS | 295.25 |
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