Upcoming IPO: Ravi Infrabuild Projects files draft papers with SEBI to raise ₹1,100 crore via public offer

Upcoming IPO: Construction company Ravi Infrabuild Projects Ltd has filed preliminary papers with markets regulator Sebi seeking its approval to raise Rs 1,100 crore through an initial public offering (IPO).

The proposed IPO is entirely a fresh issue of equity shares with no offer-for-sale (OFS) component, according to the draft red herring prospectus (DRHP) filed on Thursday.

Proceeds of the issue will be utilised for the purchase of new equipment, investment in the subsidiaries for payment of debt, and for general corporate purposes.

Ravi Infrabuild Project is a civil construction company engaged in the development of roads, highways, bridges, flyovers, and tunnels primarily for public sector clients. With more than two decades of experience, the company has presence across multiple Indian states, including Rajasthan, Madhya Pradesh, Maharashtra, and Uttar Pradesh.

The company operates across multiple modes including EPC (Engineering, Procurement, and Construction) and hybrid annuity models, with a portfolio that includes projects under Bharatmala Pariyojna, NHAI, IRCTC, MoRTH, and various state governments.

The company's total order book stood at Rs 3,092 crore as on December 31, 2024.

Motilal Oswal Investment Advisors Ltd and Axis Capital Ltd are the book running lead managers to the issue.

The equity shares are proposed to be listed on the BSE and NSE.