IPO · Professional & Local Services

Infra.Market gets SEBI nod for ₹5,000 Cr IPO

By Startup Enthusiast · 23 January 2026

Date: 23 January 2026
Company: Infra.Market
What it does: building materials platform
Kind: IPO
Amount: INR 5,000 Cr
Based in: Thane
Founded: 2016
Sector: Professional & Local Services

What they do

Infra.Market is a building materials platform that operates across B2B and retail channels, using technology to digitise and streamline the procurement process

What happened

The company has received approval from the Securities and Exchange Board of India (SEBI) to launch an IPO expected to raise ₹5,000 Cr, in an equal mix of…

Why it matters

Infra.Market reported a 27% rise in gross revenue to ₹18,472 Cr in FY25, but its profit fell nearly 42% to ₹220 Cr during the year

The details

Infra.Market has received approval from the Securities and Exchange Board of India (SEBI) to launch an IPO expected to raise ₹5,000 Cr, in an equal mix of fresh issue and offer for sale (OFS).
The company pre-filed its IPO documents in October 2025, and the SEBI issued an observation letter, which is the go-ahead for the IPO.
Infra.Market is a building materials platform that operates across B2B and retail channels, using technology to digitise and streamline the procurement process.
The company’s product portfolio spans ready-mix concrete, tiles, and paints, offered through brands such as RDC Concrete, Million Tiles, and Shalimar Paints.
Acquisition has been a big strategy for Infra.Market to expand its product portfolio. In 2025, the company bought a majority stake in ceramic tiles manufacturer Metro Group in a share swap deal worth ₹200 Cr.
Before that, Infra.Market also acquired a 57% stake in Emcer Tiles, snapped up RDC Concrete and Shalimar Paints as well.

The bigger picture

Infra.Market reported a 27% rise in gross revenue to ₹18,472 Cr in FY25, but its profit fell nearly 42% to ₹220 Cr during the year.
The company has raised a total of $700 Mn from marquee investors like Tiger Global, Evolvence, Foundamental GmbH, Nikhil Kamath, Capri Global, Accel, Nexus, among others.
The IPO is expected to include a near-equal mix of fresh equity shares and an offer for sale (OFS) by existing investors.

About the business

Infra.Market is a technology-enabled building materials platform offering a diversified product portfolio, supported by its pan-India manufacturing infrastructure.
The company serves contractors, developers, and retailers in the real estate, construction, and infrastructure sectors.
Its product portfolio spans structural products, finishing materials, lifestyle products, and other products and services, including concrete, aggregates, AAC blocks, steel, pipes and fittings, MDF, plywood, laminates, tiles, bath fittings, sanitaryware, fans, lights, electrical appliances, modular kitchens and wardrobes, designer hardware, and paints.
With 283+ manufacturing facilities, comprising 163 owned and 120 exclusive third-party manufacturing units across 22 states in India, the company offers its products through a diversified, multi-channel distribution network covering both business-to-business (B2B) and business-to-retail (B2R) segments.
The B2B channel focuses on direct corporate sales, addressing the needs of pan-India corporate customers across commercial and residential real estate, infrastructure, industrials, and other sectors.
The B2R channel caters to retail demand through 17,256 retail touchpoints, including retail outlets, dealers, sub-dealers, and distributors.

The deal

Type: ipo

Investors

Tiger Global (investor) — a global venture capital firm
Evolvence (investor) — a global venture capital firm
Foundamental GmbH (investor) — a European venture capital firm
Nikhil Kamath (investor) — co-founder of Zerodha
Capri Global (investor) — a global private equity firm
Accel (investor) — a global venture capital firm
Nexus (investor) — a global venture capital firm

About Infra.Market

Product: An end-to-end construction materials platform spanning sourcing, manufacturing partnerships, and distribution.
Customers: Institutional buyers, builders, contractors, and retail construction-materials customers.
How it makes money: Makes money by supplying construction materials and related solutions across B2B and retail channels.
What sets it apart: Large network of manufacturing partners and a broad retail touchpoint footprint.
Operations: Runs a wide supplier network and reaches more than 10,000 retail touchpoints across India.

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