Arete 22 has filed draft papers with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 440 crore through an initial public offering (IPO). The proposed IPO is entirely a fresh issue of equity shares.
Of the proceeds, Rs 150 crore will be used to fund working capital requirements, while Rs 120 crore will be utilised for repayment or prepayment of certain borrowings. Another Rs 34.82 crore is proposed to be used for purchasing plant and machinery for the company's existing manufacturing facilities. The remaining funds will be used for general corporate purposes. Unistone Capital is the banker to the issue.
Arete 22 was incorporated in February 2021 and acquired Unicast Autotech in 2026. The company manufactures aluminium alloy wheels and precision aluminium high-pressure die-cast components for automotive original equipment manufacturers.
