Ravi Infrabuild files papers with Sebi to raise Rs 1,100 cr through IPO

Udaipur-based company will use proceeds to invest in subsidiaries and repay borrowings

Ravi Infrabuild Projects has filed a draft red herring prospectus with the markets regulator to raise up to Rs 1,100 crore through an initial public offering (IPO).

 

The company is involved in nationwide infrastructure work like highways, ropeways, and railways. Its portfolio includes engineering, procurement, construction, and annuity projects.

 

The IPO will be a completely fresh issue of equity shares with a face value of Rs 10 each and no offer for sale element. The company will use the proceeds of the issue for purchasing equipment, investing in subsidiaries for debt repayment, repaying borrowings, and general corporate purposes, according to its application to the Securities and Exchange Board of India.

 

 

The Udaipur-based company had a net debt of Rs 1,026.5 crore at the end of the first nine months of the financial year 2025 (9M FY25). Revenue from operations stood at Rs 1,027.6 crore and profit after tax (PAT) at Rs 81.9 crore.

 

The company’s total order book as of 9M FY25 was worth around Rs 3,092.6 crore. In FY24, the company’s revenue stood at almost Rs 1,391 crore and PAT was Rs 124.72 crore.

 

The company’s promoters, Narayan Singh Rao, Dilip Singh Rao and Ravi Singh Rao, hold 84 per cent of the pre-issue, issued, subscribed, and paid-up equity share capital of the company.

 

The company has worked on projects of the National Highways Authority of India, the Union Ministry of Road Transport and Highways, and various state governments. Its flagship projects include the Amritsar-Jamnagar economic corridor under Bharatmala Pariyojna and the Ghazipur–Ballia greenfield highway (NH-31) in Uttar Pradesh and Bihar.

 

 

Motilal Oswal Investment Advisors and Axis Capital are the lead managers for the issue.