Indian construction-materials marketplace Infra.Market has raised about Rs 732 crore ($83 million) in its Series G funding round, in a deal driven by existing investors and promoter financing, as the company gears up for an initial public offering later this year.
The round was led by Zerodha co-founder Nikhil Kamath’s family office NKSquared, which put in Rs 200 crore. Significant contributions also came from Silverline Homes (promoter entity tied to co-founder Aaditya Sharda), which invested Rs 250 crore—the single largest cheque in the round, according to media reports.
Other participants included Tiger Global, existing backers such as Accel India, Nexus Ventures, and Evolvence India.
Promoters (founders Souvik Sengupta and Aaditya Sharda) used promoter financing to inject capital, in part to lift their ownership stake and formalise promoter status ahead of the IPO.
This round values Infra.Market at Rs 24,600 crore, broadly flat vs its previous valuation, according to reports.
For fiscal year 2024, the company reported revenues of Rs 14,530 crore and profit after tax of Rs 378 crore.
Infra. Market plans to file its draft red-herring prospectus (DRHP) within the coming weeks via the confidential IPO route. The expected IPO size is estimated at $600-700 million, according to reports.
