Pharmeasy Founder-Backed Arisinfra Solutions Files for ₹600 Crore IPO with SEBI

Pharmeasy Founder-Backed Arisinfra Solutions: The Securities and Exchange Board of India (SEBI) has received Arisinfra Solutions Limited’s Draft Red Herring Prospectus (DRHP).

The company from its public subscription plan to raise Rs 600 crore. The lot size of the offer consists of new equity shares that are worth Rs 2 each.

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The plans to use the funds raised from its public offering for the following purposes:

• Repayment or prepayment of some outstanding loans, which is expected to cost 204.60 crore.
• Funds for the company’s working capital needs, are estimated at Rs 177 crore.
• Investments in its subsidiary, Buildmex-Infra Private Limited, to meet its working capital needs, which is expected to cost 48 crore which is estimated at Rs 48 crore.
• Buying some shares from existing shareholders of its subsidiary, ArisUnitern Re Solutions Private Limited (formerly ArisUnitern Private Limited which is estimated at Rs Rs 20.40 crore.
• The remaining funds will be used for general company operations.

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One of the company investors, Siddharth Shah, co-founder of Pharmeasy held 1.4 % stake of 775,320 equity shares in the company.

The company promoters includes Siddharth Shah, Ronak Kishor Morbia, Bhavik Jayesh Khara, Jasmine Bhaskar Shah, Priyanka Bhaskar Shah, Bhaskar Shah and Priyanka Shah Family Trust.

Arisinfra Solutions Limited IPO book-running lead managers for the issue are JM Financial Limited, IIFL Securities Limited, and Nuvama Wealth Management Limited.

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