“Debt companies like Innoven Capital, STRIDES Ventures and Trifecta Capital are looking to unload some of their shares in the upcoming round,” said one person quoted above.
According to a second person, the company’s risk debt company collectively owns approximately 1.5% of the shares.
“Kotak Mahindra Capital Co. Ltd is performing the mission,” the person said.
Kotak, risk debt firms and Instra.market did not respond immediately MintMake a request for comment.
The development was rated at more than $120 million in revenue in the building materials market before the IPO funding in January, with a rating of about $2.7 billion.
This round has involved Tiger Global, Evolvence and Foundational, as well as well as well as well as well as well as well as well as well as well as well as well-known investors such as Ashish Kacholia, Nikhil Kamath and Abhijit Pai. It also counts supporters of Accel, Sistema Asia, Mars Unicorn Fund and Nexus Venture Partners. Some of these venture capital firms may unload some of their shares based on the option for sale.
Infra.Market, which is scheduled to go public later this year, appoints Kotak Mahindra Capital, IIFL Capital, Goldman Sachs, Jefferies, ICICI Securities, ICICI Securities, HSBC Securities, Motilal Oswal Financial Services and Nuvama Wealth Management to manage its IPOs.
Startups eavesdrop on public markets
The company joins a growing number of startups ready to take advantage of the public market. Companies such as Ather, Bluestone and businessness will be open this year, following the 2024 IPO of FirstCry, Ola Electric, Swiggy, Swiggy, Unicommerce and Blackbuck.
Founded in 2016 by Souvik Sengupta and Aaditya Sharda, Infra.Market was originally an enterprise platform that leverages technology to simplify procurement of building ecosystems. Since then, the company has expanded its portfolio to focus on a large number of construction products under dedicated labels, while addressing issues such as price transparency, quality control and inefficiency in logistics.
In February, the company highlighted plans to go beyond concrete and steel, focusing on lifestyle categories such as mattresses, curtains and home decor. Its lifestyle brand IVA (also includes Shalimar Paints, Millenium, Emcer and Amstrad) offers materials “outside” in a home building, such as bathroom accessories, ceramics, tiles, paint, household appliances, consumer durables, and more.
The downward push from the government
Infra Market’s growth has accelerated as geopolitical shifts and inflationary pressures prompted companies to move manufacturing to India. The momentum supported by the Indian government’s infrastructure promotion and initiatives such as the incentive scheme for production and production and the “China Plus One” strategy has been strengthened.
The company reports revenue ₹145.3 million in fiscal year 24 ₹Last year, its after-tax profit soared to ₹3.78 million ₹FY15.5 billion, FY23. Much of this growth is driven by the increasing contribution of private label brands to categories such as concrete, wall products, paint, electrical and ceramic tile, which make up a large part of their revenue.
Infra.Market also operates a strong manufacturing and distribution network with more than 260 manufacturing units nationwide, including 200 concrete plants, 16 tiles in Morbi and 7 facilities dedicated to fencing. It provides materials for some of India’s largest infrastructure and industrial projects.
The company is also increasing its business-to-consumer (B2C) and retail sectors, accounting for 30% of total revenue. Co-founder Sengupta said in June that it has more than 10,000 retail touchpoints and 30 exclusive flagship stores to increase profitability in the segment.
Key Points
- Several venture capital firms (Innoven Capital, Strides Ventures, Trifecta Capital) are exploring Infra’s $30 million deal.
- Infra.market is actively preparing for an IPO later this year after valuing the company at $120 million pre-IPO funding round of $2.7 billion in January.
- Infra.Market strategically expands into the B2C and retail sectors, focusing on lifestyle categories like its brands “Ivas” and Aperied Brands, such as home decor, appliances and bathroom accessories.
- The startup benefits from macroeconomic trends and government initiatives.
- Infra.Market showed strong financial growth, with revenue increasing to ₹1.453 billion in fiscal year 24 ₹FY23 was 118.465 million, and after-tax profit increased significantly to ₹3.78 million ₹1.55 million in the same period.
