Infra.Market Files for Rs 4,500-5,500 Crore IPO via Confidential Route
Infra.Market, a construction material supply firm backed by Tiger Global, has filed for an Initial Public Offering (IPO) with SEBI using the confidential pre-filing route. The IPO, valued between Rs 4,500 crore and Rs 5,500 crore, will include a fresh issue of shares and an Offer for Sale. The company has appointed seven prominent merchant bankers to manage the offering. Founded in 2016, Infra.Market offers end-to-end construction solutions across 15 product categories and recently raised Rs 730.00 crore in a Series G funding round.
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Infra.Market, a Tiger Global-backed construction material supply firm, has taken a significant step towards going public. The company has filed for an Initial Public Offering (IPO) with the Securities and Exchange Board of India (SEBI) using the confidential pre-filing route. The proposed IPO is valued between Rs 4,500 crore and Rs 5,500 crore.
IPO Structure and Management
The upcoming IPO is structured as a combination of a fresh issue of shares and an Offer for Sale (OFS) by existing shareholders. This approach allows the company to raise new capital while also providing an exit opportunity for current investors.
To manage this substantial offering, Infra.Market has appointed a consortium of seven prominent merchant bankers:
- Kotak Mahindra Capital
- Goldman Sachs
- IIFL Capital
- HSBC
- Jefferies
- ICICI Securities
- Motilal Oswal Financial Services
Recent Funding and Company Background
Prior to this IPO filing, Infra.Market successfully raised Rs 730.00 crore in a Series G funding round, demonstrating strong investor interest in the company's business model and growth prospects.
Founded in 2016 by Souvik Sengupta and Aaditya Sharda, Infra.Market has established itself as a comprehensive solution provider in the construction industry. The company offers end-to-end construction solutions across 15 product categories, including:
- Concrete
- Steel
- Tiles
- Paints
- Consumer durables
Market Impact and Outlook
The decision to file for an IPO through the confidential route suggests that Infra.Market is strategically positioning itself in the market. This approach allows the company to work through the regulatory process with SEBI while maintaining confidentiality on certain aspects of its filing.
As the IPO process unfolds, it will be interesting to see how the market responds to this offering from a key player in the construction materials supply chain. The success of this IPO could have significant implications for both the construction industry and the broader startup ecosystem in India.
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