Dhariwal Buildtech plans ₹950 crore IPO
Dhariwal Buildtech, an infrastructure construction company from Haryana, is looking to raise ₹950 crore through a fresh IPO and has just filed its draft papers with SEBI.
There's also a chance they might bring in another ₹190 crore before the IPO goes live.
Financials and project details
They build roads, highways, bridges, tunnels—you name it—across eight states.
As of March 2025, they've wrapped up 29 projects worth over ₹2,100 crore and have a healthy order book of ₹4,767 crore.
For FY25 (ending March 2025), profits hit ₹160.6 crore (up at a strong 58% CAGR since FY23) and revenue reached ₹1,153 crore.
Funds will go toward debt repayment, buying equipment
A big chunk of the IPO funds will go toward paying off debt and buying new construction equipment.
As of June 2025, Dhariwal Buildtech and its subsidiaries had a total of ₹1,222.7 crore in outstanding debt.
SBI Capital Markets and HDFC Bank are handling the IPO process.