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Ravi Infrabuild Projects Limited, a well-known construction company in India, has taken a major step toward going public. The company has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its upcoming Initial Public Offering (IPO). Through this IPO, Ravi Infrabuild aims to raise around ₹1,100 crore.
IPO Details
According to the DRHP, the IPO will be a fresh issue of equity shares only, meaning that all the money raised will go directly to the company. There will be no offer-for-sale (OFS) by existing shareholders. Each equity share will have a face value of ₹10, and the company plans to list the shares on both the BSE and NSE stock exchanges.
The price band (the range within which investors can bid for shares) and minimum bid lot (the smallest number of shares one can buy) will be decided in consultation with the lead managers. The IPO is being managed by Motilal Oswal Investment Advisors Limited and Axis Capital Limited, while MUFG Intime India Private Limited will act as the registrar for the issue.
How the Funds Will Be Used
Ravi Infrabuild will use the funds raised from the IPO for several key purposes, including:
- Repaying or prepaying existing loans taken by the company.
- Investing in its subsidiaries to help them repay or prepay their loans.
- Buying construction equipment to support ongoing and future projects.
- General corporate purposes such as working capital and administrative costs.
About Ravi Infrabuild Projects Limited
Ravi Infrabuild is a civil construction company with over 20 years of experience in building infrastructure for the public sector. The company focuses on projects such as roads, highways, flyovers, bridges, and tunnels, and operates across various Indian states, including Rajasthan, Madhya Pradesh, Maharashtra, and Uttar Pradesh.
The company handles projects under different models like EPC (Engineering, Procurement, and Construction) and hybrid annuity, which are commonly used in government infrastructure projects. It has worked on major projects under Bharatmala Pariyojana, NHAI, IRCTC, MoRTH, and several state governments.
Financial Snapshot
As of December 31, 2024, the company had a strong order book worth ₹3,092 crore. According to financial data:
- For the year ending March 31, 2024, Ravi Infrabuild reported a net cash inflow of ₹0.56 crore and total revenue of ₹23.34 crore.
- In the previous year (FY23), it posted a net cash outflow of ₹0.67 crore and revenue of ₹41.01 crore.
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