Infra Market, an online marketplace for construction materials, has secured ₹731.5 crore in a pre-IPO funding round from its promoters and existing investors, reinforcing its position ahead of a planned public listing. The funding round values the company at roughly $2.8 billion.
Promoters Aaditya Sharda and Souvik Sengupta contributed ₹250 crore through their entity Silverline Homes Private Limited. Zerodha co-founder Nikhil Kamath invested about ₹200 crore through NK Squared. Other participants included Tiger Global with ₹176 crore, Accel India and Evolvence India Fund each with ₹44 crore, and Nexus Ventures contributing ₹17.6 crore. Company officials said this is expected to be the final private round before filing the Draft Red Herring Prospectus with India’s securities regulator.
Founded in 2016, Infra Market supplies a wide range of building materials, including concrete, steel, pipes, plywood and electrical equipment, to real estate developers, contractors, and architects across India. The company has previously raised debt financing, securing $50 million from Mars Growth Capital in June, bringing its total borrowing from the firm to $150 million.
Despite strong revenue growth, Infra Market faces operational and financial challenges. India Ratings downgraded the company from A‑/Negative Outlook to BBB+/Negative Outlook earlier this year, citing concerns over debt refinancing, liquidity pressures, and negative operating cash flow in fiscal year 2025. Company executives said the new funding would strengthen its balance sheet and provide resources to expand its market presence ahead of its IPO.
Market analysts said the round demonstrates investor confidence in Infra.Market’s business model, particularly its ability to streamline procurement in the fragmented Indian construction materials sector. Observers noted that the involvement of promoters and existing strategic investors underscores the company’s intention to enter the public markets on solid financial footing.
