New Delhi: Technology-driven construction material provider ArisInfra Solutions Ltd has mobilised Rs 80 crore in a pre-IPO funding round. Those who participated in the funding round included Cognizant Capital Dynamic Opportunities Fund, JVS Holdings LLP, and Lamha Enterprise LLP.
On January 17, ArisInfra's board of directors and shareholders approved this pre-IPO placement. Following this, the company secured Rs 80 crore by selling 36,03,792 equity shares at Rs 222 apiece, according to a public announcement. In August 2024, ArisInfra Solutions filed draft papers with capital markets regulator Sebi to raise Rs 600 crore through an initial public offering (IPO).
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 subsidiary, Buildmex-Infra, for funding its working capital, purchase of partial shareholding from existing shareholders of its subsidiary, ArisUnitern Re Solutions Pvt Ltd, repayment of loan and for general corporate purposes.
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Arisinfra Solutions is a B2B technology-enabled company, focusing on simplifying and digitizing 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, utilizing 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.
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