Arisinfra Solutions Limited IPO

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Business Model & Core Operations:

ArisInfra Solutions Limited is a B2B technology-enabled company revolutionizing the procurement landscape of the Indian construction materials market. Positioned within a traditionally fragmented and unorganized sector, the company digitizes and simplifies the end-to-end procurement of construction materials such as aggregates, cement, RMC, steel, construction chemicals, and walling solutions. By leveraging a mix of advanced technologies—including AI and machine learning—and operational expertise, ArisInfra connects real estate and infrastructure developers with a wide network of vetted vendors.

Scale & Reach:

Since inception, ArisInfra has demonstrated rapid growth, delivering over 14.10 million metric tonnes of construction materials by December 2024, serving 2,659 customers through 1,729 vendors across 1,075 pin codes. The company’s customer and vendor base grew significantly—from 431 customers and 441 vendors in FY22 to 2,133 customers and 1,458 vendors in FY24.

Technology Integration:

ArisInfra has digitized traditional procurement processes by integrating with widely used messaging platforms, reducing the need for separate app installations. The company’s proprietary system matches RFQs with appropriate vendors based on real-time data such as location, credit terms, and delivery history, enabling quick bid aggregation and quote generation. This has reduced the RFQ-to-order cycle from days to minutes, offering a seamless and cost-effective procurement experience.

Logistics & Documentation:

Its in-house logistics platform, ArisDelivery, manages order tracking and dispatch operations. Real-time delivery updates, coupled with the digitization of critical documents (e.g., delivery challans and weighbridge slips), enhance customer transparency and operational efficiency. In FY24 alone, the firm digitized over 1.21 lakh deal-related documents.

Clientele & Vendor Network:

The company caters to top-tier clients such as Capacit’e Infraprojects, J Kumar Infraprojects, Afcons, Wadhwa Group, and Puranik Builders. On the supply side, it collaborates with reputable vendors including Guardian Casting, Sun-x Concrete, and Bigbloc Building Elements.

Third-Party Manufacturing:

To improve margins and ensure quality control, ArisInfra has ventured into third-party manufacturing of construction materials like RMC and aerated concrete blocks. In 9MFY25, third-party products contributed nearly 35% of revenue from operations (₹1,902.57 million), up from 17.57% in FY24 and 2.47% in FY23.

Value-Added Services through ArisUnitern:

Via its subsidiary ArisUnitern Re Solutions Pvt. Ltd., the company offers consultancy and project advisory services for real estate developers. These services not only enhance customer stickiness but also provide deeper insights for risk assessment and project selection.

Objects of the Arisinfra Solutions Limited IPO:

The Company proposes to utilise the Net Proceeds towards the following objects: 1. Repayment / prepayment, in full or part, of certain outstanding borrowings availed by the Company (₹204.6 cr) 2. Funding the working capital requirements of Company (₹177 cr) 3. Investment in its Subsidiary, Buildmex-Infra Private Limited (“Buildmex”), for funding its working capital requirements (₹48 cr) 4. General corporate purposes

Arisinfra Solutions Limited IPO Details:

Open Date: Jun 18 2025
Close Date: Jun 20 2025
Total Shares: 2,25,04,324
Face Value: ₹ 2 Per Equity Share
Issue Type: Book Building
Issue Size: 499.60 Cr.
Lot Size: 67 Shares
Issue Price: ₹ 210-222 Per Equity Share
Listing At: NSE,BSE

Promoters And Management:

1. Ronak Kishor Morbia is the Chairman and Managing Director of the Company. He holds a bachelor’s degree in commerce from Jai Hind College, University of Mumbai. He has been associated with Krish Enterprise as its sole proprietor for over 10 years. He has been associated with the Company since incorporation and has over 13 years of experience in the construction materials industry. He is responsible for shaping the technology and overall business strategy of the Company. 2. Bhavik Jayesh Khara is the Whole Time Director of the Company. He holds a bachelor’s degree in science from Rutgers Business School, The State University of New Jersey. He has previously been associated with E&Y, New York for two and a half years. He has been associated with the Company since March 8, 2021 and has over six years of experience in the tax accounting and construction materials industry. He is responsible for managing day-to-day operations, financial management and credit operations. 3. Manish Kumar Singh is the Non-Executive Director (Nominee of Siddhant Partners) of the Company. He holds a bachelor’s degree in commerce from L.N. Tirhat College, Muzaffarpur. He has previously been associated with Tulip Lab Private Limited and currently serves as a director on the board of VBuzz Teleservices Private Limited and Call The Doc Healthcare Solutions Private Limited. He has been associated with the Company since May 31, 2024 and has over 20 years of experience in finance and accounts.

Financials of Arisinfra Solutions Limited IPO:

Particulars (In Million) 9MFY25 2024 2023 2022
Revenue from operations 5465 6968 7461 4523
Gross Margin 775 837 625 447
Gross Margin (%) 14.19% 12.01% 8.37% 9.88%
EBITDA 399 130 -1.09 -10.66
Adjusted EBITDA margin (%) 8.27% 5.56% -0.06% 1.59%
Net working capital days 116 120 102 166
Net working capital 3633 3094.0 2659 2430
D/E 1.64 1.45 1.75 0.94
CFOA -44 34 -143 -2691

Comparison With Peers:

There are no listed peers in the same industry.

Registrar of Arisinfra Solutions Limited IPO:

  1. MUFG Intime India Private Limited

Discussion on Arisinfra Solutions Limited IPO:

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