Building materials platform Infra.Market has successfully raised Rs 1,049 crore (approximately $125 million) in its Series F funding round, following the completion of its Series E round in September 2024.
The company’s board approved a special resolution to issue 49,149 compulsory convertible preference shares at an issue price of Rs 2,13,439 per share, as per regulatory filings with the Registrar of Companies.
This funding round, likely a pre-IPO move, is structured into two tranches:
- Tranche 1: Rs 498 crore ($60 million), led by Tiger Global with Rs 211 crore, alongside investments from Evolvence Group (Rs 168 crore) and Foundamental Fund (Rs 119 crore).
- Tranche 2: Rs 551 crore, with participation from Capri Global, Eudora Ventures, Kangaro Industries, SVV Limited, Premratan Exports, and Verity Knowledge, as well as individual investors such as Ashish Kacholia, Nikhil Kamath, and others.
Tiger Global’s involvement is noteworthy, given its limited activity in 2024, where it made only two other investments—Wiz Freight and Jupiter’s NBFC arm.
Following this round, Infra.Market’s valuation is estimated at Rs 24,000 crore ($2.8 billion).
A Leader in Building Materials
Infra.Market offers a wide range of products, including:
- Structural Products: Concrete, Steel, Construction Chemicals
- Finishing Products: AAC Blocks, MDF, Plywood, Pipes, and Fittings
- Lifestyle Products: Tiles, Sanitaryware, Paints, Lights, Appliances, and Modular Kitchens
The platform generates revenue from these products, with consolidated gross revenue growing from Rs 11,847 crore in FY23 to Rs 14,530 crore in FY24. Its profit also surged 2.4X to Rs 378 crore during the same period.
Infra.Market continues to position itself as a key player in the building materials sector, driving innovation and scaling operations to meet growing market demands.
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