Ravi Infrabuild Projects Limited, an integrated EPC company with expertise across multiple infrastructure verticals in India, has received approval from the Securities and Exchange Board of India (SEBI) for its proposed Initial Public Offering (IPO).
The IPO comprises a complete fresh issue with no OFS component, aggregating up to ₹1,100 crore. The price band and important IPO dates will be announced in due course. For the IPO, Motilal Oswal Investment Advisors Limited and Axis Capital Limited are the book-running lead managers.
The company plans to use the IPO proceeds for debt repayment, subsidiary investments, equipment purchases, and general corporate purposes.
About the company
The company is one of the leading infrastructure construction firms, with experience in undertaking structural work such as flyovers, bridges, railways, highways, and expressways.
Since its incorporation in 2009, it has transitioned from a small construction company with an average order size of ₹14.5 crore to an established EPC player with an average order size of ₹257.71 crore as of December 31, 2024, demonstrating expertise in the design and construction of various projects across six states in India, its RHP showed.
As of December 31, 2024, the company has constructed 4,439.38 lane km of highways and expressways, which also includes structures such as major bridges, canal crossings, and railway underbridges.
The company’s revenue from operations has improved from ₹1,105.11 crore in fiscal 2022 to ₹1,390.99 crore in fiscal 2024, at a CAGR of 12.19%, and reached ₹1,027.59 crore in the nine months ended December 31, 2024.
As of December 31, 2024, projects awarded by NHAI, MoRTH, and NHLML contributed 79.85% to its total order book.
Its other public sector clients include Madhya Pradesh Road Development Corporation Limited, North Western Railway, Urban Improvement Trust, Bhilwara and Public Works Department, Rajasthan.
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