Infra.Market To Raise Pre-IPO Round Of ₹500 Cr At $2.6 Bn Valuation
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Building materials platform Infra.Market is in talks to raise ₹500 Cr (about $53 Mn) at a post-money valuation of ₹25,000 Cr (about $2.6 Bn) from new institutional investors as well as acting backers in a pre-IPO round, sources told Inc42.
Existing investors Tiger Global, Accel, and Nexus Venture Partners will participate in the round, along with the startup’s cofounders, Aaditya Sharda and Souvik Sengupta, the sources added.
The startup, which is targeting a public listing in the next 4-6 months, is expected to close the funding round in the coming weeks, they said.
The pre-IPO round comes at a slightly higher valuation than Infra.Market’s ₹732 Cr Series G round in September 2025 which valued the platform at about ₹24,600 Cr.
A questionnaire sent to Infra.Market didn’t elicit any response till the time of publishing this story.
As per Infra.Market’s regulatory filings, it has already secured ₹235 Cr of the total amount from investors including Tiger Global, Accel Partners, Evolvence India, Nexus Venture Partners, Ashish Kacholia and Sumeet Kanwar of Verity.
Founded in 2016, Infra.Market is a marketplace for construction materials such as ready-mix concrete, tiles and paints. It sells through its B2B and retail network, and leverages technology to digitise the procurement process. Its portfolio includes brands such as RDC Concrete, Millenium Tiles and Shalimar Paints.
Infra.Market has raised over $740 Mn in total funding to date. Notably, it raised ₹1,250 Cr in debt funding from Singapore-based private credit platform Ascertis Credit earlier this year.
On the financial front, Infra.Market’s consolidated net profit rose to about ₹300-325 Cr in FY26 from ₹220 Cr in FY25, the sources said. Its revenue rose 7% YoY to nearly ₹20,000 Cr during the year. EBITDA stood at ₹1,750-1,800 Cr, while EBITDA margin expanded by 100 basis points to 9%, according to the sources.
Notably, Infra.Market filed its DRHP via the confidential route last year. Sources told Inc42 then that the startup would look to raise up to ₹5,000 Cr via the public issue, which will likely consist of an even split between fresh issue and an offer for sale.
Capital markets regulator SEBI cleared the Mumbai-based startup’s IPO plans in January.
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