Aris Infra plans to raise Rs 600-700 crore via IPO
Aris Infra, a technology-driven construction material procurement platform, is looking to raise Rs 600-700 crore through an initial public offering (IPO).
The Mumbai-based company is backed by high-net-worth individuals (HNIs) and family offices such as PharmEasy CEO Siddharth Shah, San Francisco-based Think Investments, and partners from private equity firms such as TPG Capital, Temasek, and BlackRock.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitIIT DelhiCertificate Programme in Data Science & Machine LearningVisitMIT xPROMIT Technology Leadership and InnovationVisitAris Infra plans to file a draft prospectus with the market regulator early next month, senior company executives told ET.
They said the IPO will involve entirely new shares being issued as existing shareholders have chosen to retain their current stakes.
Promoters and families currently have a 65-70% stake in Aris Infra. Think Investments owns 8.5%, and HNIs such as Kedar Mankekar and Prashant Singh family offices hold 14% and 7% stakes respectively.
Started in February 2021 by Ronak Morbia and Bhavik Khara, Aris Infra leverages AI and machine learning to streamline procurement of construction materials, connecting customers like property developers and vendors through its platform, digitising the overall supply chain of the construction industry.
So far, the company has raised Rs 160 crore in equity and an equal sum in debt, with the last funding round in
