IPO-bound Infra.Market, a building materials platform, providing solutions across the construction value chain, has secured a $ 150 million (Rs 1,287 crore) financing from Mars Growth Capital. This financing includes an additional $ 50 million (Rs 429 crore) and an extension of the existing $100 million (Rs 858 crore) facility by five years.
This marks the company’s second fundraising round this year. Earlier, it raised $ 125 million (Rs 1,000 crore) in a Series D financing round, which valued the company at $ 2.8 billion.
Founded in 2016 by Souvik Sengupta and Aaditya Sharda, Infra.Market has established a materials platform serving both institutional customers (B2B) and retail outlets (B2R) in the building materials sector. The company boasts a network of 250 manufacturing units and has strategic investments in RDC Concrete, Shalimar Paints, Emcer, Millennium Tiles, and Amstrad. Infra.Market operates through 10,000 retail touchpoints across India, offering 15 product categories, including concrete, walling solutions, steel, aggregates, pipes and fittings, consumer durables among others.
Infra.Market is the second-largest player by revenue in the ready-mix concrete business. It is also the second-largest by capacity in autoclaved aerated concrete blocks and flooring tiles in India.
Sengupta said the company’s vision was to build India’s largest building materials platform, aiming to provide solutions across the construction value chain globally as well as in India. With the company rapidly expanding its market presence, Sengupta sees a unique opportunity to create a top-tier construction materials company based out of India.