Infra.Market IPO: Receives SEBI Approval to Raise Funds

Infra.Market has secured approval from the Securities and Exchange Board of India (SEBI) for its proposed ₹5,000 crore initial public offering (IPO).  

The company had filed its draft papers confidentially in October 2025, signalling its intent to tap public markets, as per recent reports. 

Offer Structure and Intermediaries 

The IPO is expected to consist of a fresh issue of shares and an offer for sale (OFS) by existing shareholders, with both portions likely to be broadly similar in size, according to The Economic Times reports.  

The issue will be led by Kotak Mahindra Capital, IIFL Capital, Goldman Sachs, Jefferies, ICICI Securities, HSBC Securities, Motilal Oswal Financial Services and Nuvama Wealth Management. 

Pre-IPO Capital Raise and Valuation 

In September, ahead of the draft filing, the Mumbai-based firm raised around ₹732 crore from founders and current investors, valuing the company at roughly $2.8 billion.  

Founders Aaditya Sharda and Souvik Sengupta invested ₹250 crore through promoter entity Silverline Homes.  

Zerodha cofounder Nikhil Kamath’s NK Squared invested about ₹200 crore. Tiger Global invested ₹176 crore, while Accel India and Evolvence India Fund invested ₹44 crore each. Nexus Ventures contributed ₹17.6 crore. 

Business Profile and Financial Performance 

Founded in 2016, Infra.Market supplies building materials including concrete, steel, pipes and fittings, plywood, fans, lighting products, and kitchen and electrical appliances.  

Its customers include real estate developers, contractors and architects. For the year ended March 2025, consolidated operating revenue increased 27% year-on-year to ₹18,472 crore. Net profit fell to ₹219.7 crore from ₹378 crore a year earlier. 

Industry Context 

Infra.Market operates in the B2B construction procurement segment, competing with platforms such as Zetwerk, OfBusiness and Moglix. The company has not disclosed the timeline for the public issue. 

Read More: PhonePe Pre-IPO Move: Founders Offload ₹3,937 Crore; New Regulations Lead to ₹1,500 Crore Hit! 

Conclusion 

With SEBI approval in place, Infra.Market has moved a step closer to listing, with the IPO expected to combine fundraising with partial exits for existing shareholders. 

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