Dhariwal Buildtech IPO | There is no offer-for-sale element to the public offering, which is a completely new issue.
In order to raise Rs 950 crore via an initial share offering, Dhariwal Buildtech, an infrastructure building business located in Haryana, submitted a draft red herring prospectus (RHP) to SEBI on September 27.
There is no offer-for-sale component to the IPO; it is a completely new issue.
In its pre-IPO round, the business may also think about raising some money. Although the precise sum is unknown, the business said in its draft documents that “the planned pre-IPO placement, if executed, should not exceed Rs 190 crore (i.e. 20 percent of the new issue).”
The company Dhariwal Buildtech, which specializes in building roads, highways, bridges, tunnels, rural infrastructure, and other civil works, has planned to use Rs 174.2 crore and Rs 300 crore of the proceeds from the new issuance to pay off its own obligations and those of its subsidiaries, respectively.
In its DRHP, the business said that as of June 2025, “the total outstanding borrowings of the company Rs 897.5 crore and those of subsidiaries at Rs 325.2 crore.”
Additionally, construction equipment would be purchased with Rs 203 crore of the proceeds from the new issuance, with the remaining sum going towards general corporate uses.
As of March 2025, Dhariwal Buildtech has an order book of Rs 4,767 crore. Over the last eight years, the company has completed over 29 projects in eight states with a total contract value of Rs 2,117.6 crore.
In the fiscal year that concluded in March 2025, the firm recorded a profit of Rs 160.6 crore, which grew at a compound annual growth rate (CAGR) of 58 percent when compared to FY23. Revenue expanded at a CAGR of 36.5 percent to Rs 1,153 crore over the same time.
The merchant bankers for the Dhariwal Buildtech IPO are SBI Capital Markets and HDFC Bank.