Pharmeasy founder-backed Arisinfra Solutions files DRHP with SEBI for Rs 600-crore IPO

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Arisinfra Solutions Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). Through the initial public offering, the company plans to raise up to Rs 600 crore. The total issue size consists entirely of a fresh issue of equity shares with a face value of Rs 2 each.

The company intends to utilise the net proceeds for the following purposes: (i) Repayment or prepayment, in full or in part, of certain outstanding borrowings, estimated at Rs 204.60 crore; (ii) Funding the company's working capital requirements, estimated at Rs 177 crore; (iii) Investment in its subsidiary, Buildmex-Infra Private Limited to fund its working capital requirements, estimated at Rs 48 crore; (iv) Purchase of partial shareholding from existing shareholders of its subsidiary, ArisUnitern Re Solutions Private Limited (formerly ArisUnitern Private Limited), estimated at Rs 20.40 crore; and the remaining amount will be allocated towards general corporate purposes and unidentified inorganic acquisitions.

Amongst marquee investors are Siddharth Shah, co-founder of Pharmeasy, who owns 1.4 % stake or 775,320 equity shares in the company. Promoter group includes Siddharth Shah along with Ronak Kishor Morbia, Bhavik Jayesh Khara, Jasmine Bhaskar Shah, Priyanka Bhaskar Shah, Bhaskar Shah and Priyanka Shah Family Trust. Other significant stakeholders include Aspire family Trust, Think Investments PCC and Zen Assets Trust.

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.

About the company

Arisinfra Solutions Limited leverages technology and human expertise to streamline and manage the process of purchasing, selling, and delivering construction materials. The Company uses technology and human expertise to simplify the procurement process for purchasing bulk quantities of construction materials.

Through its network of vendors it sources construction materials and provide them to real estate and infrastructure developers and contractors, striving to be a one-stop solution for all their construction material requirements.

Its customer base includes real estate, infrastructure developers and contractors, including Capacit’e Infraprojects Limited, J Kumar Infraprojects, Afcons Infrastructure, EMS, S P Singla Constructions, Real Gem Buildtech, Wadhwa Group Holdings, Casa Grande Civil Engineering, Sheth Creators, Puranik Builders, and Transcon Iconica.

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