ArisInfra Solutions Mobilises Rs 80 Crore in Pre-IPO Funding

ArisInfra Solutions Ltd has secured Rs 80 crore in pre-IPO funding, reducing its planned IPO size to Rs 499.6 crore. The funds will be used for working capital, investment in subsidiaries, and corporate purposes. The company digitizes procurement for construction materials and serves a wide customer base.

Technology firm ArisInfra Solutions Ltd has successfully raised Rs 80 crore through a pre-IPO funding round, which included contributions from notable investors such as Cognizant Capital Dynamic Opportunities Fund, JVS Holdings LLP, and Lamha Enterprise LLP.

This funding round has consequently reduced the company's initial public offering (IPO) size to Rs 499.6 crore from the originally planned Rs 579.6 crore, according to their board's January 17th approval. The Mumbai-based enterprise is preparing for a fresh issue of equity shares, scheduled for August 2024, with proceeds earmarked for working capital, subsidiary investments, loan repayment, and general corporate needs.

Operating as a B2B technology-enabled company, ArisInfra has simplified the procurement chain for construction materials, delivering over 10 million metric tonnes between 2021 and 2024. Major financial institutions JM Financial, IIFL Securities, and Nuvama will manage the public issue.

(With inputs from agencies.)