Prosus Sees Significant IPO Upside in India...
26 Jun, 2025
Mumbai, May 9, 2025 – Ravi Infrabuild Projects Limited, a key player in India’s civil construction sector, has filed draft papers with the Securities and Exchange Board of India (SEBI) to raise ₹1,100 crore through an Initial Public Offering (IPO). This move comes as India’s infrastructure sector witnesses rapid growth, with the government’s continued focus on highways, urban connectivity, and public works.
Fresh Funds for Expansion
The proposed IPO will be a fresh issue of equity shares, meaning all proceeds will flow directly into the company. Ravi Infrabuild plans to utilize the funds to purchase advanced construction equipment, invest in its subsidiaries, and meet general corporate expenses. This capital infusion is expected to significantly enhance the company’s project execution capabilities and help it take on larger, more complex projects across the country.
The focus on acquiring modern machinery is especially timely, as the infrastructure sector increasingly demands faster, more efficient project delivery to keep pace with national targets.
Strengthening Financial Health
A substantial portion of the IPO proceeds will be used to reduce debt, particularly within the company’s subsidiaries. By lowering its debt burden, Ravi Infrabuild aims to improve its balance sheet, reduce interest costs, and increase its ability to invest in new opportunities.
The remainder of the funds will be earmarked for general corporate purposes, giving the company the flexibility to respond to new business opportunities and challenges as they arise in India’s dynamic infrastructure landscape.
Two Decades of Building India
Founded over 20 years ago, Ravi Infrabuild Projects has established itself as a trusted partner in India’s infrastructure growth story. The company specializes in the construction of roads, highways, bridges, flyovers, and tunnels, with a presence in states such as Rajasthan, Madhya Pradesh, Maharashtra, and Uttar Pradesh. Its experience spans various project models, including Engineering, Procurement, and Construction (EPC) and hybrid annuity models, both of which are popular in government-backed infrastructure initiatives.
Over the years, Ravi Infrabuild has built a reputation for timely project delivery and technical expertise, making it a preferred contractor for both central and state government agencies.
Impressive Order Book
As of December 31, 2024, Ravi Infrabuild Projects boasts an order book valued at ₹3,092 crore. This robust pipeline includes ongoing and upcoming projects under major government initiatives such as Bharatmala Pariyojana, which aims to transform India’s road network. The company’s clients include the National Highways Authority of India (NHAI), Ministry of Road Transport & Highways (MoRTH), Indian Railway Catering and Tourism Corporation (IRCTC), and various state governments.
This strong order book not only provides revenue visibility for the coming years but also highlights the company’s ability to win and execute large-scale, prestigious projects.
Ready for Stock Market Debut
Upon receiving the necessary regulatory approvals, Ravi Infrabuild Projects plans to list its shares on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The IPO will be managed by Motilal Oswal Investment Advisors Limited and Axis Capital Limited, two of India’s leading investment banks. Their involvement is expected to attract significant interest from institutional and retail investors alike.
Listing on India’s premier stock exchanges will not only provide the company with access to a wider pool of capital but also enhance its visibility and credibility in the market.
Riding India’s Infrastructure Wave
The timing of Ravi Infrabuild’s IPO is strategic, coinciding with the Indian government’s massive push for infrastructure development. Programs like Bharatmala and the National Infrastructure Pipeline are driving unprecedented investment in roads, highways, and urban connectivity. Companies with proven execution capabilities, such as Ravi Infrabuild, are well-positioned to benefit from this momentum.
Industry experts believe that the company’s focus on public sector projects, combined with its plans for modernization and debt reduction, will further strengthen its competitive edge in the sector.
Ravi Infrabuild Projects’ ₹1,100 crore IPO marks a significant milestone for both the company and India’s infrastructure sector. By raising fresh capital to modernize equipment and reduce debt, the company is aligning itself with national priorities like ‘Make in India’ and ‘Atmanirbhar Bharat’. With a strong order book, experienced leadership, and a clear growth strategy, Ravi Infrabuild is set to make a compelling entry into the Indian capital markets, offering investors a chance to participate in the country’s infrastructure growth journey.
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