Monitoring Agency Report

August 05, 2026 To To The Compliance Manager The Manager, Listing Department BSE Limited National Stock Exchange of India Ltd Corporate Relationship Dept., Exchange Plaza, Plot No. C/1, G Block, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Bandra (East), Dalal Street, Mumbai 400001. Mumbai 400 051. Scrip Code: 544419 Symbol: ARIS Sub: Monitoring Agency Report for the Quarter ended June 30, 2026 Dear Sir/ Madam, Pursuant to Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 please find enclosed herewith Monitoring Agency Report in respect of utilization of proceeds of IPO for the Quarter ended June 30, 2026, issued by ICRA Limited, Monitoring Agency. You are requested to take the above information on record. Thanking you, Yours sincerely, For Arisinfra Solutions Limited Bhavik Jayesh Khara Whole-time director and CFO DIN: 09095925 Place: Mumbai Encl.: As mentioned above June2026 MONITORING AGENCYREPORT Name of the Issuer:ArisInfra Solutions Limited For quarter ended: June30, 2026 Name of the Monitoring Agency (MA):ICRA Limited (a) Deviation from the objects of the issue: No Material deviation -the utilization of the issuance proceeds is in line with the objects of the issue. (b) Range of deviation: Not Applicable Declaration: We declare that this report provides an objective view of the utilization of the issue proceeds in relation to the objects of the issue based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. The MA does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives. This Report is not intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said information. The views and opinions expressed herein do not constitute the opinion of MA to deal inany security of the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should be construed as creating a fiduciary relationship between the MA and any issuer or between the agency and any user of this report. The MA and its affiliates also do not act as an expert as defined under Section 2(38) of the Companies Act, 2013. The MA or its affiliates may have credit rating or other commercial transactions with the entity to which the report pertains and may receive separate compensation for its ratings and certain credit relatedanalyses. We confirm that we do not perceive any conflict of interest in such relationship/ interest while monitoring and reporting the utilization of the issue proceeds by the issuer. We have submitted the report herewith in line with the format prescribed by SEBI, capturing our comments,where applicable. There are certain sections of the report under the of the Board of Directors subsequent to the MA submitting their report to the issuer and before dissemination of the report through stock exchanges. These sections have not been reviewed by the MA, and the MA takes no Signature: Parul Goyal Narang Vice President &Head-Process Excellence Analyst:Tiyasha Dey Quality Analyst: Dhwani Vinchhi Sensitivity Label : Public June2026 1. IssuerDetails Name of the Issuer: ArisInfra Solutions Limited Name(s) of the promoters: Promoters Ronak Kishor Morbia Jasmine Bhaskar Shah Siddharth Bhaskar Shah Priyanka Bhaskar Shah Bhaskar Prataprai Shah Aspire Family Trust (Jasmine Bhaskar Shah) Priyanka Shah Family Trust (Jasmine Bhaskar Shah) Bhavik Jayesh Khara Source: BSE Industry/ sector to which it belongs:Construction Materials 2. Issue Details Issue Period:Openingdate-June 18, 2025 Closingdate-June 20, 2025 Type of Issue:Initial Public Offer Type of specified securities:Equity shares IPO Grading, if any: No credit rating agency registered with SEBI has been appointed in respect ofobtaininggrading for theoffer. Issue Size (Rs. Crore):499.596 With OFS portion:NA Excluding OFS portion:NA Net proceedsas per Prospectus:INR 461.442Crore (Excluding Issue Related Expenses) Actual Net proceeds:INR 476.115Crore* *Revision in Net proceeds is on account of actual offer related expenditure being lower than estimated by INR 14.672Crore Type of Issue: Pre-Initial Public Offer Type of specified securities:Equity shares IPO Grading, if any: No credit rating agency registered with SEBI has been appointed in respect of obtaining grading for the offer. Issue Size (Rs. Crore): 80.004 With OFS portion:NA Excluding OFS portion:NA Net Proceeds from Pre-IPO Placement:INR 80.004 Crore Note:ICRA hasmonitoredProceedsamountof INR 579.600crore(Pre-IPOproceeds INR 80.004 crore & IPOproceeds INR 499.596 crore)in Q1 FY2027 Sensitivity Label : Public June2026 3. Details of the arrangement made to ensure the monitoring of issue proceeds. Source of information, Comments of certifications considered by Comments of the Monitoring Particulars Reply the Monitoring Agency for Agency Board of the preparation of report Directors During Q4FY2026 and Q1FY2027, the issuer revised the utilisation of GCP due to a reduction in offer-related -Peer reviewed CACertificate expenses and lower utilization towards other objects i.e. debt -Confirmation from repayment, working capital Whether all utilization is as per the management requirements and investment in Yes Buildmex-Infra Private Limited as No comments disclosures in the Offer Document? -Bank statement of the detailed in Exhibit 4(ii). As a result, proceeds account/ the allocation towards General Corporate Purpose (GCP) increased corresponding accounts from the originally proposed INR 31.842 crore INR 47.959 crore as on Q1FY2027. Actual GCP utilization is higher by Whether shareholder approval has 51% vis-à-vis the amount disclosed in been obtained in case of material Not As confirmed by the Offer document. as explained above. No comments deviations#from expenditures Applicable management However, the revised amount remains disclosed in the Offer Document? within the permitted limit of 25% of Gross Proceeds Whether the means of finance for the disclosed objects of the issue has No No comments No comments management changed? Is there any major deviation observed over the earlier monitoring agency No No deviation observed. No comments No comments reports? Whether all Government/ statutory approvals related to the object(s) Yes GNL-2 form GNL-2 form management have been obtained? Whether all arrangements pertaining to technical assistance/ collaboration No comments No comments Applicable management are in operation? Are there any favorable events As understood from the improving the viability of these No No comments management object(s)? Are there any unfavorable events As understood from the No No comments affecting the viability of the object(s)? management Is there any other relevant As understood from the information that may materially affect No No comments management the decision making of the investors? #Where material deviation is defined to mean: (a) Deviation in the objects or purposes for which the funds had been raised. (b) Deviation in the amount of funds utilizedby more than 10% of the amount specified in the offer document. Sensitivity Label : Public June2026 4. Details of the object(s) to be monitored. (i)Cost of object(s) Pre-IPO Placement Source of information, Original certifications Directors cost (as per Revised considered by the Comments of the Monitoring Particulars of S.N. Item Head the offer cost Reason Proposed Monitoring Agency for Agency firm document) [Rs. Crore] for cost financing the preparation of arrangements [Rs. Crore] revision option report made ICRA has relied on issuer General -Peer reviewed CA confirmation and Peer 1 corporate certificate 80.004 reviewedCA certificate for No Comments Applicable purposes -Issuer confirmation objects and proposed utilisation of Pre-IPO proceeds. (ii) Cost of object(s) IPOProceeds Source of information, Original cert [Showing first 8,000 characters — download PDF for full document]