Infra.Market files DRHP through confidential route, plans to raise Rs 5000 Crore
Infra.Market IPO will be of up to Rs 5,000 crore, with a roughly equal split between fresh issue and offer-for-sale, a source familiar with the matter said.
Construction technology firm Infra.Market has filed for an initial public offering through the confidential filing route, according to a newspaper advertisement.
The offering is expected to be up to Rs 5,000 crore with a roughly equal split between fresh issue of shares and an offer-for-sale component, said a source familiar with the development.
The company has appointed Kotak Mahindra Capital, IIFL Capital, Goldman Sachs, Jefferies, ICICI Securities, HSBC Securities, Motilal Oswal Financial Services, and Nuvama Wealth Management as investment bankers for the IPO.
Last month, the Maharashtra-based company secured Rs 732 crore ($83 million) in fresh funding in a pre-IPO round.
The Series G round was led by Nikhil Kamath's family office, NKSquared, with a Rs 200-crore investment. Silverline Homes, a company associated with co-founder Aaditya Sharda, contributed Rs 250 crore, making it the largest cheque in the financing round.
Beyond bolstering liquidity ahead of the IPO, the round is intended to increase the founders' stake in the company to nearly 30%, officially classifying them as promoters.
Infra.Market, founded in 2016, supplies construction materials and provides technology solutions for infrastructure and real estate projects. In FY24, revenues reached Rs 14,530 crore, with profit after tax rising to Rs 378 crore.
Its growth was fueled by private-label manufacturing, which now contributes two-thirds of sales, along with acquisitions like RDC Concrete, Shalimar Paints, and Emcer Tiles.
The company is betting its IPO pitch on its expansion plans into Tier II and III cities, technology-driven supply chain, and strong dealer network.
Edited by Affirunisa Kankudti