ArisInfra Secures Rs 80 Crore in Pre-IPO Funding

ArisInfra Solutions Ltd, a technology-driven construction material provider, mobilized Rs 80 crore in a pre-IPO funding round participated by major investors. The funds will support the company's working capital, investments, and debt repayment. ArisInfra aims to raise Rs 600 crore through an IPO, issuing fresh equity shares.

ArisInfra Solutions Ltd, a technology-driven construction material company, has successfully raised Rs 80 crore in a pre-IPO funding round. The investment was backed by Cognizant Capital Dynamic Opportunities Fund, JVS Holdings LLP, and Lamha Enterprise LLP.

ArisInfra's board of directors and shareholders gave the green light for this funding initiative, resulting in the sale of 36,03,792 equity shares priced at Rs 222 each. The company has also submitted draft papers to SEBI for a Rs 600 crore initial public offering set for August 2024. The IPO aims to issue new equity shares without an offer for sale component.

The raised funds will support working capital needs, investment in the subsidiary Buildmex-Infra, and help in partial share acquisition of subsidiary ArisUnitern Re Solutions Pvt Ltd. They will also be directed towards debt repayment and general corporate purposes. ArisInfra has tapped JM Financial, IIFL Securities, and Nuvama as lead managers for this financial move.

(With inputs from agencies.)