Infra.Market secures Rs 1,050 Cr in pre-IPO round; prepares to list on bourses
The round witnessed participation from Tiger Global, Evolvence, Foundamental GmbH, Ashish Kacholia, Nikhil Kamath, Abhijit Pai, Sumeet Kanwar, Nuvama and CapriGlobal.
Technology-enabled building materials platform Infra.Market has secured Rs 1,050 crore in its pre-IPO funding round as it is gearing up for a public listing later in the year, according to a regulatory filing with the Registrar of Companies (RoC).
With this funding round, the company's estimated valuation has reached Rs 24,147 crore.
The round witnessed participation from several prominent investors, including Tiger Global, Evolvence, Foundamental GmbH, Ashish Kacholia, Nikhil Kamath, Abhijit Pai, Sumeet Kanwar, Nuvama, and CapriGlobal.
The company has already partnered with eight major investment banks -- Kotak Mahindra Capital, IIFL Capital, Goldman Sachs, Jefferies, ICICISecurities, HSBC Securities, Motilal Oswal Financial Services, and NuvamaWealth Management—to navigate its public listing.
It is expected to file its draft papers with the capital markets regulator SEBI very soon.
Infra.Market offers a comprehensive portfolio of in-house and third-party products supported by a robust pan-India manufacturing infrastructure and a multi-channel distribution network. It supplies to major infrastructure and industrial projects, counting supply to projects such as the Mumbai Metro project, the bullet train project, Apple's Foxconn factory, and Kempegowda Airport among its many accomplishments.
Recently, the company expanded its retail venture by reaching over 10,000 retail touchpoints and operating more than 30 exclusive flagship stores across India to provide a wide array of construction materials, including concrete, tiles, paint, and modular furniture.
In its 2024 fiscal report, Infra.Market achieved revenues of Rs 14,530 crore, with a profit after tax (PAT) of Rs 378 crore.
Edited by Suman Singh