ArisInfra Raises INR 225 Cr From Anchor Investors

NeoMile Capital Increases Stake In ArisInfra To 5.13%

SUMMARY

ArisInfra allotted 1.01 Cr shares to 15 investors, including Astorne Capital VCC, Niveshaay Hedgehogs Fund, Nexus Global opportunities Fund, at INR 222 per share

No domestic mutual fund applied for the anchor investor portion of the issue

ArisInfra’s IPO, which will open tomorrow, will comprise only a fresh issue of shares worth up to INR 499.6 Cr

Mumbai-based B2B ecommerce company ArisInfra raised INR 224.8 Cr from anchor investors today, a day before its IPO opens.

The company allotted 1.01 Cr shares to 15 investors, including Astorne Capital VCC, Niveshaay Hedgehogs Fund, Nexus Global Opportunities Fund, at INR 222 per share.

No domestic mutual fund applied for the anchor investor portion of the issue.

The company filed its red herring prospectus (RHP) on June 12 to raise INR 499.6 Cr via its public issue, which consists solely of a fresh issue component.

ArisInfra’s IPO is scheduled to open tomorrow and will close on June 20. The company has reserved 75% of the total offer for QIBs, while NII and retail investor portions have been restricted to 15% and 10%, respectively. Shares of ArisInfra are expected to list on the BSE and the NSE on June 25.

The company has set a price band of INR 210 to INR 222 apiece for the IPO. At the upper end of the price band, ArisInfra is looking at a post issue implied market cap of INR 1,799 Cr (about $209 Mn).

Founded in 2021 by Ronak Morbia and Bhavik Khara, ArisInfra is a B2B construction material procurement platform for real estate and infrastructure developers for products like ready-mix concrete, steel, cement, and construction chemicals, among others. Besides the founders, ArisInfra counts PharmEasy founder Siddharth Shah, his family office and kin among its promoter and promoter group.

ArisInfra faces competition from other B2B construction marketplaces, including Infra.Market, OfBusiness, Moglix, and Zetwerk. ArisInfra claims to differentiate itself through a tech-first, asset-light model and a focus on digitising procurement.

In the run up to the IPO, the B2B ecommerce platform managed to turn profitable while maintaining a steady top line. ArisInfra reported a net profit of INR 6.5 Cr in the first nine months of FY25 compared to a loss of INR 17.3 Cr in FY24. It is important to mention that the company had been a loss making entity since its inception, reporting a loss of INR 15.4 Cr in FY23 and INR 6.5 Cr in FY22. Operating revenue stood at INR 546.5 Cr in the first nine months of FY25 as against a loss of INR 696.8 Cr in FY24.