10 hours Ago
Construction materials provider Infra.Market has raised Rs 1,050 crore ($127.3 million) in its pre-IPO funding round as it gears up for a stock market listing later this year, according to a regulatory filing with the Registrar of Companies.
Budget with ET Rising Bharat may need to take center stage for India’s game-changing plans Will Indian Railways accelerate to global standards with govt’s budgetary allocation? Budget 2025 to catapult India's domestic manufacturing to a global scale The funding round saw participation from several investors like Tiger Global, Evolvence, Foundamental GmbH, investor Ashish Kacholia, Zerodha cofounder Nikhil Kamath and Capri Global among others, as per the filing. The Mumbai-based company is now valued at Rs 24,147 crore (about $2.8 billion), compared to $2.
5 billion in its last round in May 2024 when it raised $50 million from Mars Unicorn Fund, a joint venture of Liquidity Group and Mitsubishi UFJ Financial Group. The company will use the funds for growth, expansion and various other general corporate needs, it said. Founded in 2016 by Souvik Sengupta and Aditya Sharda, the Accel-backed firm supplies a diverse range of building materials spanning over 15 categories.
These include concrete, steel, pipes and fittings, plywood, fans, lights and kitchen and electrical appliances. Artificial Intelligence(AI) Java Programming with ChatGPT: Learn using Generative AI By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Basics of Generative AI: Unveiling Tomorrows Innovations By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Generative AI for Dynamic Java Web Applications with ChatGPT By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Mastering C++ Fundamentals with Generative AI: A Hands-On By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Master in Python Language Quickly Using the ChatGPT Open AI By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Performance Marketing for eCommerce Brands By - Zafer Mukeri, Founder- Inara Marketers View Program Office Productivity Zero to Hero in Microsoft Excel: Complete Excel guide 2024 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance A2Z Of Money By - elearnmarkets, Financial Education by StockEdge View Program Marketing Modern Marketing Masterclass by Seth Godin By - Seth Godin, Former dot com Business Executive and Best Selling Author View Program Astrology Vastu Shastra Course By - Sachenkumar Rai, Vastu Shashtri View Program Strategy Succession Planning Masterclass By - Nigel Penny, Global Strategy Advisor: NSP Strategy Facilitation Ltd. View Program Data Science SQL for Data Science along with Data Analytics and Data Visualization By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) AI and Analytics based Business Strategy By - Tanusree De, Managing Director- Accenture Technology Lead, Trustworthy AI Center of Excellence: ATCI View Program Web Development A Comprehensive ASP.
NET Core MVC 6 Project Guide for 2024 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Digital Marketing Masterclass by Pam Moore By - Pam Moore, Digital Transformation and Social Media Expert View Program Artificial Intelligence(AI) AI-Powered Python Mastery with Tabnine: Boost Your Coding Skills By - Metla Sudha Sekhar, IT Specialist and Developer View Program Office Productivity Mastering Microsoft Office: Word, Excel, PowerPoint, and 365 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Digital marketing - Wordpress Website Development By - Shraddha Somani, Digital Marketing Trainer, Consultant, Strategiest and Subject Matter expert View Program Office Productivity Mastering Google Sheets: Unleash the Power of Excel and Advance Analysis By - Metla Sudha Sekhar, IT Specialist and Developer View Program Web Development Mastering Full Stack Development: From Frontend to Backend Excellence By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance Financial Literacy i.e Lets Crack the Billionaire Code By - CA Rahul Gupta, CA with 10+ years of experience and Accounting Educator View Program Data Science SQL Server Bootcamp 2024: Transform from Beginner to Pro By - Metla Sudha Sekhar, IT Specialist and Developer View Program In May last year, ET reported that Infra.Market had sold a minority stake in its subsidiary RDC Concrete for $20 million in a round led by Kamath.
In December 2023, ET reported the company had sold 10% of its stake in RDC Concrete for $20 million to Kacholia. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories For FY24, the company reported a revenue of Rs 14,530 crore, up from Rs 11,846 crore in FY23. Its profit after tax (PAT) also grew 2.
4 times to Rs 378 crore, from Rs 155 crore in the previous year. Infra.Market had earlier partnered with eight investment banks, including Kotak Mahindra Capital, Goldman Sachs, Jefferies and Motilal Oswal Financial , for its $500-700 million IPO.
Infra.Market serves both institutional clients and retail stores. It distributes its products across 20 states in India and exports to markets such as Dubai, Singapore and Italy.
It runs more than 260 manufacturing units, with over 200 focused on concrete production, with a total capacity surpassing 20 million cubic meters annually..
