Arete 22 Limited, an integrated precision aluminium mobility solutions company has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) for its IPO.

The IPO comprises of a fresh issue of Equity Shares of face value of ₹10 each aggregating up to ₹440 Crores.

The Company proposes to utilise the Net Proceeds towards funding its working capital requirements amounting to ₹150 crore, repayment or prepayment, in full or in part, of certain borrowings amounting to ₹120 crore, and purchase of plant and machinery for its existing manufacturing facilities amounting to approximately ₹34.82 crore. The remaining proceeds will be utilised towards general corporate purposes.

Arete22 Private Limited was incorporated on February 9, 2021and acquired Unicast Autotech Private Limited in 2026. The Company is an integrated precision aluminium mobility solutions provider, engaged in the manufacture of aluminium alloy wheels and precision aluminium high-pressure die-cast (HPDC) components for automotive original equipment manufacturers (OEMs). Its principal business comprises the manufacture of aluminium alloy wheels for motorcycles and scooters. Through its Material Subsidiary, Unicast Autotech Private Limited (Unicast), the Company also manufactures precision aluminium HPDC components for automotive applications, including components used in engines, transmissions, powertrains and structural applications.

The Company operates on a business-to-business (B2B) model, supplying its products directly to two-wheeler OEM customers. It follows a build-to-print manufacturing model, under which aluminium alloy wheels are manufactured in accordance with the designs, specifications and technical requirements provided by OEM customers.

The Company operates two manufacturing facilities for aluminium alloy wheels. Its Bilaspur, Haryana facility has an installed capacity of 3.60 million wheels per annum, while its Kolar, Karnataka facility has an installed capacity of 2.40 million wheels per annum, taking the Company’s aggregate installed capacity to 6.00 million aluminium alloy wheels annually. The two facilities together span a total manufacturing area of approximately 27,042 square metres. The Company’s manufacturing facilities are strategically located near established automotive manufacturing clusters in northern and southern India, including key automotive, electric vehicle and two-wheeler hubs. This positioning enables efficient access to customers, supplier ecosystems and skilled manpower.

The Company’s revenue base has become increasingly diversified across geographies. In Fiscal 2026, Karnataka was the largest contributor at ₹144.29 crore, accounting for 26.82% of revenue, followed by Tamil Nadu at ₹119.47 crore (22.21%), Haryana at ₹110.85 crore (20.61%) and Uttarakhand at ₹91.60 crore (17.03%). Andhra Pradesh and Rajasthan contributed ₹37.00 crore (6.88%) and ₹33.16 crore (6.16%), respectively. This marks a significant shift from Fiscal 2024, when Tamil Nadu alone accounted for 76.85% of revenue, indicating a broader geographic spread of the Company’s customer base and operations.

The Company’s operational performance has strengthened significantly over the last three fiscals. The number of SKUs increased from 9 in Fiscal 2024 to 49 in Fiscal 2026, while wheels sold rose from 7.45 lakh units to 31.79 lakh units during the same period. Revenue per wheel increased from ₹1,457.58 in Fiscal 2024 to ₹1,671.46 in Fiscal 2026, and the order completion rate improved from 78.46% to 90.94%, reflecting a broader product portfolio, higher sales volumes and improved execution.

The Company has demonstrated strong financial growth, with revenue from operations increasing from ₹112.46 crore in Fiscal 2024 to ₹537.95 crore in Fiscal 2026, representing a CAGR of 118.70%. During the same period, profit after tax increased from ₹2.92 crore to ₹44.97 crore, at a CAGR of 292.50%, while EBITDA grew from ₹13.79 crore to ₹94.68 crore, representing a CAGR of 161.98%. The Company’s growth in revenue, EBITDA and profit after tax was supported by higher production volumes and the scaling up of its manufacturing operations.

Unistone Capital Private Limited is the banker to the issue and Bigshare Services Private Limited is the registrar to the issue.