Infra.Market files for Rs 5,000 crore IPO Papers With SEBI

Infra.Market, an online construction materials marketplace, has filed a confidential draft for a ₹5,000 crore IPO with SEBI.

The IPO will be split roughly equally between a fresh share issue and an offer for sale (OFS). 

The confidential filing follows SEBI’s Regulation 59C. Investment banks managing the IPO include Kotak Mahindra Capital, IIFL Capital, Goldman Sachs, Jefferies, ICICI Securities, HSBC Securities, Motilal Oswal, and Nuvama Wealth Management.

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This comes two weeks after Mumbai-based Infra.Market raised ₹732 crore from promoters and existing investors, valuing the company at about $2.8 billion. Founders Aaditya Sharda and Souvik Sengupta invested ₹250 crore via Silverline Homes Pvt Ltd, boosting their stake to roughly 30%.

Other investors included NK Squared (Nikhil Kamath) with ₹200 crore, as well as Tiger Global, Accel India, Evolvence India Fund, and Nexus Ventures.

Founded in 2016 by Souvik Sengupta and Aaditya Sharda, Infra.Market is a marketplace for construction materials and also manufactures products under its private labels. 

It sells through B2B and retail channels, using technology to digitize procurement. Its offerings include ready-mix concrete, tiles, and paints under brands like RDC Concrete, Million Tiles, and Shalimar Paints.

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In July, Infra.Market acquired a majority stake in ceramic tiles maker Metro Group in a ₹200 Cr share-swap deal.

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