Ravi Infrabuild Projects files draft papers with SEBI to raise Rs 1,100 crore via IPO
Summary
Ravi Infrabuild Projects Ltd filed a draft red herring prospectus (DRHP) to the Securities and Exchange Board of India, seeking to raise Rs 1,100 crore through an initial public offering (IPO), entirely comprising a fresh issue of shares.From the proposed issue, Rs 290 crore will be allocated towards debt repayment, while Rs 335 crore will be used to repay borrowings of its subsidiary. As of March 2025, the companys consolidated outstanding borrowings stood at Rs 1,158.36 crore. Additionally, Rs 252 crore from the fresh issue will be earmarked for the purchase of equipment to support business operations.Ravi Infrabuild Projects Ltd is a prominent infrastructure construction company with a robust portfolio in structural development, including flyovers, bridges, railways, highways, and expressways. It also undertakes projects under the Hybrid Annuity Model (HAM), earning annuity income for completed works.Motilal Oswal Investment Advisors and Axis Capital are acting as the lead managers for the IPO.The company is currently executing 12 projects, spanning EPC road projects, HAM initiatives, Bill of Quantities (BoQ) based works, as well as railway and ropeway developments. As of December 2024, the total order book for these ongoing projects stood at Rs 3,092.57 crore, with contracts awarded by NHAI, MoRTH, and NHLML contributing 79.85 percent of the total.For the financial year 202324, Ravi Infrabuild reported a revenue of Rs 1,390.99 crore, marking an increase from Rs 1,016.21 crore in the previous year.