New Delhi: ArisInfra Solutions Ltd on Friday fixed a price band of Rs 210 to Rs 222 per share for its nearly Rs 500-crore Initial Public Offering (IPO).
The initial share sale will open for a public subscription on June 18 and conclude on June 20, the company announced.
The IPO is a completely fresh issue of equity shares worth Rs 499.6 crore with no Offer For Sale (OFS) component.
At the upper end of the price band, the company is valued at nearly Rs 1,800 crore.
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 digitising the procurement process for construction materials.
Between April 1, 2021 and March 31, 2024, the company has delivered 10.35 million metric tonnes of construction materials, including aggregates, ready-mix concrete, steel, cement, construction chemicals and walling solutions, utilising 1,458 vendors and serving 2,133 customers across 963 pin codes in various cities.
The company said that 75 per cent of the issue size has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.
JM Financial, IIFL Securities and Nuvama are the book running lead managers to the public issue. The equity shares are expected to be listed on June 25 on the stock exchanges.
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