What’s the Big News? Thane-based Infra.Market, a rapidly growing construction materials marketplace, has just secured an additional $50 million in debt from Mars Growth Capital—bringing its total borrowings
Thane-based Infra.Market, a rapidly growing construction materials marketplace, has just secured an additional $50 million in debt from Mars Growth Capital—bringing its total borrowings from the firm to $150 million. This strategic move comes as the company accelerates its expansion and steps up preparations for a public stock market debut.
Mars Growth Capital, the lender behind this round, is a joint venture between Japan’s MUFG Bank and Liquidity Group. Alongside this fresh infusion, Infra.Market has extended the maturity of its earlier $100 million debt facility by another five years, giving the company greater flexibility in managing repayments.
Financial advisory firm Northcote Luxe FinBrokers facilitated the transaction—supporting Infra.Market in striking a deal that balances growth ambitions with manageable debt commitments.
Launched in 2016 by Souvik Sengupta and Aditya Sharda, Infra.Market operates as a one-stop marketplace for construction and home improvement materials.
Their platform offers everything from ready-mix concrete and steel to tiles, plywood, kitchen appliances—and even home décor and landscaping supplies.
In January 2025, Infra.Market raised approximately $121 million in equity from existing investor Tiger Global, aimed at driving growth within India and expanding globally.
The company is supported by high-profile investors like Accel, Nexus Venture Partners, and Evolvence—adding credibility and financial muscle.
Infra.Market plans to diversify its offerings further by adding new product lines, helping it cater to a wider range of construction needs.
The company is eyeing expansion into more regions across India, reinforcing its network of suppliers, manufacturers, and retail touchpoints.
Infra.Market is now gearing up to file its Draft Red Herring Prospectus (DRHP) with SEBI—India’s stock market regulator.
The company intends to raise around ₹2,500 crore (approximately $300 million) via its IPO.
The IPO is expected in the third or fourth quarter of FY26, roughly between October 2025 and March 2026.
Infra.Market has brought on board top-notch legal advisors and merchant bankers to oversee the IPO process.
In FY25, the parent company, Hella Infra Market, reported a 45% increase in EBITDA, reaching ₹1,596 crore, with margins rising to 8.7% from 7.5% in the previous year.
Profit after tax jumped from ₹378 crore in FY24 to ₹492 crore in FY25—demonstrating steady profitability gains.
In May, India Ratings downgraded Infra.Market’s credit rating to “BBB+/Negative”. The rating agency highlighted concerns around:
This downgrade suggests challenges lie ahead, affecting investor sentiment and debt costs.
Infra.Market’s fresh $50 million debt round and extended repayment terms point to strategic growth plans with an IPO on the horizon. Backed by reputable investors and reinforcing its market presence, the startup is transforming India’s construction materials supply chain. Yet, challenges in liquidity and credit ratings linger as the company heads into its public debut. If seasoned well, this IPO could mark a pivotal milestone not just for Infra.Market—but for the wider prop-tech and construction-tech ecosystem in India.
