Infra.Market, a Mumbai-based tech company specializing in supplying building materials, has successfully raised Rs 1,250 crore in debt funding as it prepares for its upcoming initial public offering (IPO). The company recently obtained shareholder approval to issue a substantial number of non-convertible debentures valued at Rs 1 lakh each. These debentures will be backed by specific company assets and promoter shareholdings, including stakes in RDC Concrete, Neptune Readymix, and Robo Quarries.
This funding milestone aligns with Infra.Market’s progress towards its planned Rs 5,000 crore IPO, following approval from the Securities and Exchange Board of India (Sebi). The raised funds are primarily earmarked for refinancing existing debts, indicating a strategic financial move for the company.
Founded in 2016, Infra.Market caters to real estate developers, contractors, and architects by providing a wide range of building materials, from concrete and steel to electrical appliances. With key investments from prominent backers like Tiger Global and Accel, the company has shown significant growth, including a recent valuation of around $2.8 billion.
In its latest financial report, Infra.Market disclosed a notable 27% year-on-year increase in operating revenue for the fiscal year ending March 2025, reaching Rs 18,472 crore. Despite a decline in net profit compared to the previous year, the company’s market presence and revenue growth remain robust in the competitive landscape.
Source: Tech-Economic Times