PUNE: Accel and Tiger Global-backed Infra.Market, one of India’s fastest growing building material platforms, has confidentially filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), as per market sources.
The company is looking to raise around Rs. 4,500–5,000 crore through a combination of a fresh issue of shares and an Offer for Sale (OFS) by existing shareholders, as per the people aware of the development.
The filing has been made under SEBI’s confidential or “pre-filing” route, as per the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. This mechanism allows companies to share draft offer documents privately with the regulator before making the DRHP public.
As per the sources, the company has appointed Kotak Investment Banking, HSBC, and Goldman Sachs as its merchant bankers. The company or spokesperson declined to disclose any details or timing of the IPO.
Recently, Infra.Market raised Rs. 730 crores in a Series G round funding, further strengthening its balance sheet ahead of the proposed IPO at the valuation of Rs 24,600 crore ($2.8 billion), according to various media reports.
Founded in 2016 by Souvik Sengupta and Aaditya Sharda, Infra.Market is India’s fastest-growing building materials platform, offering end-to-end solutions across the construction value chain.
With a robust network of 250+ manufacturing units and strategic investments in RDC Concrete, Shalimar Paints, Emcer, Millennium Tiles, and Amstrad, the company also operates through 10,000+ retail touchpoints across India. Infra.Market is the only platform delivering 15+ product categories, including Concrete, Walling Solutions, Steel, Aggregates, Pipes & Fittings, MDF, Plywood, Laminates, Tiles, Paints, Modular Kitchens, Designer Hardware, Electricals, Appliances, and Consumer Durables, among others, ensuring reliability, scale, and quality across every stage of construction.