Arete22 Limited, an integrated precision aluminium mobility solutions company, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its proposed initial public offering. The IPO will comprise a fresh issue of equity shares with a face value of ₹10 each, aggregating up to ₹440 crore. The company plans to use the net proceeds for working capital requirements, repayment or prepayment of borrowings, purchase of plant and machinery and general corporate purposes.
Of the proceeds, ₹150 crore is proposed to be used for working capital requirements, while ₹120 crore will be utilised for repayment or prepayment, in full or in part, of certain borrowings. A further ₹34.82 crore is proposed to be invested in plant and machinery for the company’s existing manufacturing facilities. The balance will be used for general corporate purposes.
Incorporated on February 9, 2021, Arete22 acquired Unicast Autotech Private Limited in 2026. The company manufactures aluminium alloy wheels and precision aluminium high-pressure die-cast (HPDC) components for automotive original equipment manufacturers (OEMs). Its principal business is the manufacture of aluminium alloy wheels for motorcycles and scooters. Through its material subsidiary, Unicast Autotech, the company also manufactures precision aluminium HPDC components used in engines, transmissions, powertrains and structural applications.
Arete22 operates on a business-to-business model and supplies products directly to two-wheeler OEMs. Its aluminium alloy wheels are manufactured under a build-to-print model based on designs, specifications and technical requirements provided by customers.
The company operates two aluminium alloy wheel manufacturing facilities. Its Bilaspur, Haryana facility has an installed capacity of 3.60 million wheels per annum, while its Kolar, Karnataka facility has a capacity of 2.40 million wheels per annum. Together, the facilities have an installed capacity of 6 million wheels annually and cover approximately 27,042 square metres.
Arete 22 has expanded its geographical revenue base in recent years. In Fiscal 2026, Karnataka contributed ₹144.29 crore, or 26.82% of revenue, followed by Tamil Nadu at ₹119.47 crore, Haryana at ₹110.85 crore and Uttarakhand at ₹91.60 crore. Arete22’s revenue from operations increased from ₹112.46 crore in Fiscal 2024 to ₹537.95 crore in Fiscal 2026, representing a CAGR of 118.70%. EBITDA increased from ₹13.79 crore to ₹94.68 crore, while profit after tax rose from ₹2.92 crore to ₹44.97 crore during the same period. Unistone Capital Private Limited is the banker to the issue and Bigshare Services Private Limited is the registrar to the issue.
