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Infra.Market, a technology-driven platform for building materials, has raised INR 1,050 crore in a pre-IPO funding round, elevating its valuation to INR 24,147 crore. Investors such as Tiger Global, Evolvence, and Nikhil Kamath participated in this round. With partnerships established with eight major investment banks, the company plans to file its draft papers with SEBI soon. Known for its supply to landmark projects like the Mumbai Metro and Apple's Foxconn factory, Infra.Market continues to expand its retail footprint with over 10,000 touchpoints and 30 flagship stores. In FY24, it reported revenues of INR 14,530 crore and a PAT of INR 378 crore.
Infra.Market, a leading technology-driven platform specialising in building materials, has secured INR 1,050 crore in a pre-IPO funding round. The funds, disclosed through a regulatory filing with the Registrar of Companies (RoC), have elevated the company's valuation to INR 24,147 crore. With plans to go public later this year, the company is gearing up for a significant milestone. Advertisement
This funding round saw notable participation from a mix of global and domestic investors, including Tiger Global, Evolvence, Foundamental GmbH, Ashish Kacholia, Nikhil Kamath, Abhijit Pai, Sumeet Kanwar, Nuvama, and CapriGlobal. To streamline its public listing process, Infra.Market has collaborated with eight prominent investment banks-Kotak Mahindra Capital, IIFL Capital, Goldman Sachs, Jefferies, ICICI Securities, HSBC Securities, Motilal Oswal Financial Services, and Nuvama Wealth Management. The company is expected to file its draft red herring prospectus (DRHP) with SEBI in the near future.
Infra.Market has built a reputation for offering a comprehensive range of both in-house and third-party construction materials. Its robust manufacturing infrastructure and multi-channel distribution network enable the company to serve high-profile infrastructure and industrial projects. Some of its key contributions include supplying materials for major undertakings such as the Mumbai Metro, India's bullet train project, Apple's Foxconn factory, and Kempegowda International Airport in Bengaluru.
Beyond large-scale projects, the company is actively strengthening its retail business. It has expanded its presence to over 10,000 retail touchpoints while launching more than 30 exclusive flagship stores across the country. These outlets cater to diverse construction needs, providing materials such as concrete, tiles, paint, and modular furniture. This dual focus on retail and large-scale projects highlights Infra.Market's ability to address a wide range of construction demands across India.
In its fiscal year 2024 financial report, the company showcased impressive growth, achieving revenues of INR 14,530 crore and a profit after tax (PAT) of INR 378 crore. These figures underscore Infra.Market's strong financial position and its capacity to scale operations further as it prepares for its public debut.
Infra.Market's journey reflects its commitment to leveraging technology to streamline construction material supply chains, reduce inefficiencies, and create value for stakeholders across the infrastructure and real estate sectors.
Infra.Market's pre-IPO funding marks a critical step as the company prepares for its public listing. With a robust valuation of INR 24,147 crore and backing from key investors, it is well-positioned to strengthen its presence in the building materials sector. By contributing to prominent infrastructure projects and expanding its retail footprint, the company has showcased its capability to meet India's growing construction demands. The impressive financial performance in FY24 further cements its reputation as a leader in the sector. With its IPO on the horizon, Infra.Market is set to play an even larger role in shaping India's construction industry.
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