ArisInfra Solutions Limited has submitted its monitoring agency report for the quarter ended December 31, 2025, under SEBI Regulation 32(6) regarding the utilization of IPO proceeds. The report, prepared by ICRA Limited as the appointed monitoring agency, confirms that the company's fund utilization remains aligned with the disclosed objects of the issue without any material deviations.

Issue Details and Proceeds

The company completed its Initial Public Offer during June 18-20, 2025, raising INR 499.596 crore. Additionally, a Pre-IPO placement contributed INR 80.004 crore, bringing the total monitored proceeds to INR 579.60 crore for Q3FY26.

The actual net proceeds exceeded the prospectus estimate by INR 7.429 crore due to lower-than-expected issue-related expenses, which decreased from INR 38.154 crore to INR 30.725 crore.

Fund Utilization Objectives

The IPO proceeds are being deployed across four primary objectives as outlined in the offer document:

The revision in general corporate purposes allocation from INR 31.842 crore to INR 39.271 crore represents the unutilized expense amount being redirected as permitted under the offer document terms.

Quarterly Progress and Deployment

During Q3FY26, the company utilized INR 25.465 crore from IPO proceeds across various objectives. The total unutilized IPO amount stands at INR 11.833 crore as of December 31, 2025. For Pre-IPO proceeds, the company reported negative net utilization during the quarter due to refunds totaling INR 11.000 crore, including:

• INR 1.000 crore refund from management deposit with Natureresidences Real Estate Development Private Limited
• INR 10.000 crore full refund of earnest money deposit from Call Express Construction

Investment of Unutilized Funds

The company has deployed unutilized proceeds in term deposits and maintains balances across various designated accounts:

IPO Proceeds Deployment:

Pre-IPO Proceeds Deployment:

Compliance and Timeline Status

ICRA Limited confirmed that all utilization aligns with offer document disclosures, with no shareholder approval required for deviations. The monitoring agency reported no unfavorable events affecting project viability and confirmed that all statutory approvals have been obtained. All objects remain on schedule according to the planned timeline, with debt repayment and general corporate purposes targeted for FY2026, while working capital funding extends through FY2027.

The report demonstrates the company's adherence to regulatory requirements and transparent deployment of raised capital according to stated objectives, providing investors with detailed visibility into fund utilization progress.

Arisinfra Solutions has reported exceptional financial performance for Q3, demonstrating strong operational recovery and significant profitability improvements. The construction materials trading company announced robust consolidated growth alongside substantial revenue expansion and margin improvements.

Outstanding Consolidated Performance Growth

The company achieved remarkable consolidated performance in Q3, with net profit reaching ₹153 million compared to ₹4 million in the corresponding quarter of the previous year. Consolidated revenue from operations grew substantially to ₹2.7 billion from ₹1.8 billion, representing an impressive 49% year-on-year increase.

Exceptional EBITDA Performance and Margin Expansion

The company delivered outstanding EBITDA growth, with EBITDA reaching ₹295 million compared to ₹123 million in the previous year, representing an impressive 140% year-on-year increase. More significantly, the company expanded its EBITDA margin to 10.89% from 6.77% in the corresponding quarter of the previous year, demonstrating enhanced operational efficiency and cost management.

Strong Standalone Financial Results

On a standalone basis, the company reported revenue from operations of ₹1,613.84 million compared to ₹1,169.50 million, representing a substantial 38.00% year-on-year increase. The company achieved a remarkable turnaround in standalone profitability, reporting net profit of ₹32.26 million against a loss of ₹57.20 million in the corresponding quarter of the previous year.

Nine-Month Consolidated Growth Trajectory

For the nine-month consolidated period, revenue from operations reached ₹7,241.06 million compared to ₹5,465.23 million in the corresponding period, with net profit of ₹386.35 million versus ₹65.26 million in the previous year. On standalone basis, nine-month revenue from operations stood at ₹4,484.38 million, up from ₹3,807.90 million, with net profit of ₹99.88 million compared to a loss of ₹120.45 million in the same period last year.

Strategic IPO Proceeds Utilization

The company has effectively utilized its IPO proceeds, with ₹4,884.62 million utilized out of gross IPO proceeds of ₹4,995.96 million. The strategic deployment included ₹2,031.85 million for repayment of borrowings, ₹1,769.71 million for working capital funding, ₹478.71 million for subsidiary investment, and ₹392.71 million for general corporate purposes. This contributed to improved operational efficiency, with finance costs decreasing significantly to ₹35.42 million from ₹84.13 million in the previous year.