Aluminium mobility solutions provider Arete 22 files draft papers for ₹440 crore IPO
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The proposed IPO is entirely a fresh issue of equity shares, which will be used to fund working capital requirements and repayment of loans.
Arete 22 files IPO paper with Sebi | Credits: Getty Images
Integrated precision aluminium mobility solutions provider Arete 22 Ltd has filed draft papers with capital market regulator Sebi to mobilise ₹440 crore through an initial public offering (IPO).
The proposed IPO is entirely a fresh issue of equity shares, according to the Draft Red Herring Prospectus (DRHP) filed on Friday.
Of the proceeds, ₹150 crore will be used to fund working capital requirements, while ₹120 crore will be utilised for repayment or prepayment of certain borrowings. Another ₹34.82 crore is proposed to be used for purchasing plant and machinery for the company’s existing manufacturing facilities. The remaining funds will be used for general corporate purposes.
Arete 22 was incorporated in February 2021 and acquired Unicast Autotech Pvt Ltd in 2026. The company manufactures aluminium alloy wheels and precision aluminium high-pressure die-cast components for automotive original equipment manufacturers.
Its principal business is manufacturing aluminium alloy wheels for motorcycles and scooters. Through its material subsidiary, Unicast Autotech, it also manufactures precision aluminium components used in engines, transmissions, powertrains and structural applications.
The company operates two manufacturing facilities for aluminium alloy wheels, located in Bilaspur, Haryana, and Kolar, Karnataka, with an aggregate installed capacity of 60 lakh wheels annually.
Arete 22’s revenue from operations rose to ₹537.95 crore in fiscal 2026 from ₹112.46 crore in fiscal 2024. Profit after tax increased to ₹44.97 crore from ₹2.92 crore during the same period.
Unistone Capital is the banker to the issue, while Bigshare Services is the registrar to the issue.
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