Infra.Market, a fast-growing technology-enabled platform in the construction materials space, has raised ₹1,050 crore in a pre-IPO funding round ahead of its anticipated public listing later this year. The fundraising, which values the company at ₹24,147 crore post-money, saw participation from high-profile investors such as Tiger Global, Evolvence, Foundamental GmbH, Ashish Kacholia, Nikhil Kamath, Abhijit Pai, Sumeet Kanwar, Nuvama, and Capri Global.
The company has reportedly partnered with leading investment banks, including Kotak Mahindra Capital, Goldman Sachs, Jefferies, and HSBC Securities, to manage its public offering.
Infra.Market has established itself as a leader in India’s construction materials market, offering a wide range of in-house and third-party products supported by an extensive manufacturing infrastructure and distribution network. For the fiscal year 2024, the company posted revenues of ₹14,530 crore, EBITDA of ₹1,050 crore, and a profit after tax (PAT) of ₹378 crore, underscoring its strong financial performance. Its proprietary private-label brands, spanning categories such as concrete, tiles, walling products, and electricals, now constitute a significant portion of its revenue and have contributed to its expanding profit margins.
The company boasts a robust manufacturing footprint, with over 260 units nationwide. These include more than 200 dedicated to concrete production, with an annual capacity of 20 million cubic meters, and 16 factories in Morbi specializing in tiles, with a capacity exceeding 60 million square meters annually. Infra.Market also operates seven facilities for walling blocks with a 2.4 million cubic meter capacity.
Infra.Market’s materials have been used in several high-profile infrastructure projects, including the Mumbai Metro, the bullet train project, Apple’s Foxconn factory, and Kempegowda International Airport. The company has also expanded its retail footprint, reaching over 10,000 retail touchpoints and operating more than 30 exclusive flagship stores across India.