Arete 22 files draft papers for ₹440-crore IPO
The proposed IPO is entirely a fresh issue of equity shares
Integrated precision aluminium mobility solutions firm Arete 22 Ltd has submitted draft papers to SEBI, aiming to raise ₹440 crore via an initial public offering. The IPO will consist solely of new equity shares, as outlined in the Draft Red Herring Prospectus released on Friday. The funds raised will be allocated to various purposes, including ₹150 crore for working capital, ₹120 crore for debt repayment or prepayment, ₹34.82 crore for upgrading manufacturing equipment at existing facilities, and the remainder for general corporate expenditures.
Founded in February 2021, Arete 22 acquired Unicast Autotech Pvt Ltd in 2026. The company specializes in manufacturing aluminium alloy wheels and precision aluminium high-pressure die-cast components for automotive original equipment manufacturers. Its main product is aluminium alloy wheels for motorcycles and scooters, produced at two facilities in Bilaspur, Haryana, and Kolar, Karnataka, with an annual capacity of 60 lakh wheels.
In the fiscal year 2026, the company's revenue grew to ₹537.95 crore from ₹112.46 crore in 2024, while profit after tax increased to ₹44.97 crore from ₹2.92 crore. Unistone Capital serves as the issue banker, and Bigshare Services acts as the registrar for the IPO.
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