ArisInfra Solutions Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 600 crore through an initial public offering (IPO).
The proposed IPO is completely a fresh issue of equity shares with no offer for sale (OFS) component, according to the draft red herring prospectus (DRHP).
The Mumbai-based company plans to mop-up about Rs 120 crore through a pre-IPO placement. If such placement is undertaken, the amount raised will be deducted from the total IPO size.
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.
Arisinfra Solutions is a B2B technology-enabled company, focusing on simplifying and digitizing the procurement process for construction materials.
Between April 1, 2
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