Infra Market Secures ₹1,050 Crore Pre-IPO Funding at $2.8 Billion Valuation

Infra.Market, a leading online marketplace for construction materials, has raised ₹1,050 crore (approximately $121 million) in a pre-IPO funding round, elevating its valuation to $2.8 billion. The round was led by existing investor Tiger Global, with participation from Evolvence, Foundamental GmbH, Zerodha co-founder Nikhil Kamath, and Capri Global. 

 

The Mumbai-based company plans to utilize the fresh capital for expansion, growth, and corporate needs as it prepares for a stock market listing later this year. Infra.Market has appointed investment banks including Kotak Mahindra Capital, Goldman Sachs, Jefferies, and Motilal Oswal Financial Services to manage its upcoming IPO, aiming to raise $500-700 million. 

 

This funding round follows a $50 million investment in May 2024 from Mars Unicorn Fund, which valued the company at $2.5 billion. The increased valuation underscores Infra.Market's robust growth and the rising demand for construction materials in India. 

 

Source: Economic Times