Ravi Infrabuild Projects Ltd files DRHP with SEBI to raise up to ₹1,100 crore through IPO

Ravi Infrabuild Projects Limited, a leading integrated civil construction company with a focus on roads, bridges, tunnels, and related infrastructure, has filed its Draft Red Herring Prospectus (“DRHP”) with the Securities and Exchange Board of India (“SEBI”) to raise up to ₹1,100 crore through an Initial Public Offering (IPO).

According to D&B report, the company has emerged as one of the fastest growing engineering, procurement and construction (“EPC”) company in terms of Total Order Book and PAT, as of Fiscal Year 2024.

The IPO comprises a fresh issue of equity shares aggregating up to ₹1,100 crore at face value of ₹10 each. There is no Offer for Sale (OFS) component in the issue.

The net proceeds of the issue are proposed to be utilised for purchase of new equipment, Investment in the subsidiaries for repayment/payment of outstanding borrowings, repayment of certain borrowings and general corporate purposes.

Total Order Book, as on December 31, 2024 and March 31, 2024, March 31, 2023 and March 31, 2022, amounted to ₹3092 crore, ₹ 2396 crore, ₹1782 crore and ₹1603 crore, respectively, with a CAGR of 22.26% from March 31, 2022 to March 31, 2024. The Total Order Book to Bill Ratio for FY 2022, FY 2023, FY 2024 and as of December 31, 2024 was 1.45, 1.75, 1.72 and 3.01 times, respectively.

The equity shares are proposed to be listed on BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”).

Motilal Oswal Investment Advisors Limited and Axis Capital Limited are the Book Running Lead Managers (BRLMs) to the issue.

Ravi Infrabuild Projects Limited 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 established a robust 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.