In an attempt to obtain permission to fund Rs.1,100 crore through an initial public offering (IPO), construction business Ravi Infrabuild Projects Ltd. has submitted preliminary documents to markets regulator SEBI.

The draft red herring prospectus (DRHP), which was submitted, states that the planned IPO is a new issue of equity shares that does not include an offer-for-sale (OFS) component.

The money raised from the sale will be used for general business needs, debt repayment, and the acquisition of new machinery and subsidiaries.

The civil construction firm Ravi Infrabuild Project specializes in building roads, highways, bridges, flyovers, and tunnels for clients in the public sector.

The organization has over 20 years of expertise and is present in several Indian states, such as Madhya Pradesh, Uttar Pradesh, Maharashtra, and Rajasthan.

With a portfolio that includes projects under the Bharatmala Pariyojna, NHAI, IRCTC, MoRTH, and several state governments, the company operates in a variety of modalities, including hybrid annuity models and EPC (Engineering, Procurement, and Construction).

 

As of December 31, 2024, the company's total order book was worth Rs.3,092 crore.

The issue's book running lead managers are Axis Capital Ltd. and Motilal Oswal Investment Advisors Ltd.

It is suggested that the BSE and NSE list the equity shares.

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The company is now working on 12 projects, including railway and ropeway developments, Bill of Quantities (BoQ) based work, HAM initiatives, and EPC road projects. The contracts given by NHAI, MoRTH, and NHLML accounted for 79.85 percent of the Rs 3,092.57 crore total order book for these active projects as of December 2024.