Infra.Market has recently raised Rs 150 crore (approximately $18 million) in debt financing over the past two months, building on a $50 million equity round from the Mars Unicorn Fund, a joint venture of Liquidity Group and MUFG. The Mumbai-based firm’s board approved a special resolution to issue non-convertible redeemable debentures to facilitate this debt infusion, which is part of a larger plan to raise up to Rs 500 crore through debentures.
The funding round saw participation from multiple investors, with Yubi contributing Rs 80 crore, Raymond Limited and IKF Home Finance each investing Rs 25 crore, and Samunnati Financial adding Rs 20 crore. Founded in 2016 by Souvik Sengupta and Aaditya Sharda, Infra.Market focuses on the growing construction materials market, offering a range of products including construction materials, infrastructure goods, and technical equipment.
Infra.Market serves both institutional customers (B2B) and retail outlets (D2R), supplying materials across 16 states in India and exporting to international markets such as Dubai, Singapore, Jordan, and Italy. The company has raised approximately $520 million in total through a combination of equity and debt, with Tiger Global as the largest external stakeholder holding a 21.33% stake, followed by Accel and Nexus Ventures with 16.87% and 8.46% stakes, respectively.
Despite a significant 89% increase in gross revenue to Rs 11,846 crore in FY23, Infra.Market saw its profit decline by 17% to Rs 155 crore during the same period. The company has yet to file its annual statements for FY24. Its competitors include OfBusiness, Moglix, and Zetwerk, with OfBusiness reporting nearly Rs 20,000 crore in revenue and Rs 603 crore in profit for FY24.
Infra.Market’s strategic focus on the infrastructure sector and expanding market reach positions it well within the competitive landscape. As the company continues to grow and secure funding, it aims to further strengthen its market presence both domestically and internationally.
