Building materials giant Infra.Market is gearing up for an IPO after securing $121 million in a pre-IPO funding round. Here’s how the company’s growth story is shaping up
Building materials giant Infra.Market is gearing up for an IPO after securing $121 million in a pre-IPO funding round. Here’s how the company’s growth story is shaping up and why investors are betting big on its future.
Infra.Market, the fast-growing building materials supplier, has raised a significant $121 million (roughly ₹1,050 crore) in its pre-IPO funding round. The round saw participation from big-name investors like Tiger Global, Evolvence, Foundamental, Nuvama, Capri Global, and prominent individuals such as Nikhil Kamath (co-founder of Zerodha) and Ashish Kacholia.
This funding round has boosted Infra.Market’s valuation to a staggering $2.8 billion, up from $2.5 billion in May 2023 when the company raised $50 million from Mars Growth Capital. The raise is part of the company’s journey toward launching its Initial Public Offering (IPO), which will give investors a chance to buy shares in this rapidly growing startup.
Founded in 2016 by Aaditya Sharda and Souvik Sengupta, Infra.Market is a tech-driven company that simplifies the supply chain in the building materials industry. The company leverages technology to streamline key processes like demand planning, manufacturing, and logistics, ensuring that construction companies and contractors get the materials they need, when they need them.
Infra.Market’s platform operates across more than 250 manufacturing plants, warehouses, and third-party logistics providers. With over 15 product categories, including concrete, walling products, sanitaryware, and consumer durables, Infra.Market has become a one-stop shop for building materials.
Infra.Market’s growth story isn’t just about technology—it’s also about strategic acquisitions and a focus on expansion.
Over the years, Infra.Market has made some key acquisitions that have helped broaden its reach and capabilities:
To fund these acquisitions, Infra.Market has also made minority stake sales in these companies to investors like Nikhil Kamath and Capri Global Family Office. For instance, in November 2023, it sold a 10% stake in RDC Concrete to a group led by Ashish Kacholia.
These acquisitions have allowed Infra.Market to diversify its product portfolio and reach more customers, making it a dominant player in the building materials sector.
Infra.Market’s financial growth speaks for itself, with the company showing a steady increase in both revenue and profit over the last year.
These figures put Infra.Market among the small group of profitable startups in India, which is why it’s attracting so much investor attention as it prepares to go public.
So, why are Tiger Global, Zerodha’s Nikhil Kamath, and others all eager to invest in Infra.Market?
Infra.Market is now gearing up for its IPO, and it’s expected to raise even more capital once it hits the public markets. The company has demonstrated strong growth, and its strategic acquisitions, tech-driven platform, and strong financials position it well to take advantage of the growing demand in the building materials sector.
With over ₹14,000 crore in revenue and a valuation of $2.8 billion, Infra.Market’s IPO could be one of the most highly anticipated in India’s startup ecosystem. Investors will be keen to see how this startup continues its rapid expansion and how it plans to maintain its market leadership in the years to come.
Infra.Market’s journey from a tech-driven startup to a $2.8 billion company is a testament to its innovative approach and strong market position. The company’s pre-IPO funding raise, impressive financials, and strategic acquisitions have set it up for success as it prepares to go public.
As the building materials market continues to grow, Infra.Market is well-positioned to become one of the leading players in the space. Investors will certainly be keeping a close eye on this one, as the company’s upcoming IPO is expected to be a major milestone in India’s startup scene.
