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IPO-bound Infra.Market raises fresh capital after mopping up over $120 mn
VCCircle
·
2m ago
Medial
Building materials platform Infra.Market has secured fresh equity capital ahead of its planned IPO, following a pre-IPO funding round that valued the company at $2.8 billion. The Mumbai-based company, operated by Hella Infra Market Ltd, managed to raise over $120 million.
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Infra.Market Lines Up 8 Investment Bankers For $700 Mn IPO
Inc42
·
11m ago
Medial
Infra.Market has chosen Kotak Mahindra Capital, IIFL Capital, Goldman Sachs, Jefferies, and others to serve as advisors for its initial public offering (IPO). The IPO is expected to be valued between $500 million and $700 million but may increase depending on market conditions. Established in 2016, Infra.Market operates a construction product marketplace and oversees the entire value chain from manufacturing to logistics.
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Exclusive: Infra.Market raises $27 Mn in equity and debt
Entrackr
·
10m ago
Medial
Construction goods and services platform Infra.Market is raising up to Rs 150 crore (approximately $18 million) in its Series E2 funding round. The new money hit the company’s coffers just three months after the announcement of $50 million from the Mars Fund. The board at Infra.Market has passed a resolution to issue 7,028 Series E2 preference shares at an issue price of Rs 213438.7 each to raise Rs 150 crore or $18 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Out of the total sum of Rs 150 crores, the company has already received Rs 76.3 crores. Amit Vijaysinh Barad and Barad Sanjay Amarsinh have invested Rs 45 crores together, with the remaining funds contributed by various individual shareholders. Importantly, the Tiger Global-backed company also secured Rs 75 crore ($9 million) in debt funding from Innoven Capital. The firm also closed its Rs 150 crore debt round Yubi In July. According to TheKredible estimates, the company has been valued at around $2.6 billion post-allotment. The new funding seems to be part of a $150-200 million round that the company is eyeing. The firm is also preparing for an initial public offering (IPO), and may file its draft red herring prospectus (DRHP) soon. Infra.Market has raised around $540 million across equity and debt To date. According to the startup intelligence data platform TheKredible, Tiger Global remains the largest external stakeholder followed by Accel and Nexus Ventures after the allotment of the fresh infusion. Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.Market sells construction materials, infrastructure goods, and technical equipment. It is targeting the growing construction materials market, with a strong focus on the infrastructure sector. While the company is yet to file its annual statements for FY24, Infra.Market’s gross revenue rose 89% to Rs 11,846 crore in FY23. Its profit slipped 17% to Rs 155 crore in the same period (FY23). Infra.Market’s competition includes OfBusiness, Moglix, and Zetwerk, MetalBook, among others. Notably, OfBusiness is also eyeing to get listed on stock exchanges in the next fiscal year (FY26).
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Infra.Market raises $50 Mn from Mars Unicorn Fund
Entrackr
·
1y ago
Medial
Infra.Market has raised $50 million from MARS Unicorn Fund which is a joint venture of Liquidity Group and MUFG. With this, MARS and Liquidity investment in the company touched $100 million. The two funds previously invested $50 million in Infra.Market in 2022. While the company didn’t disclose its valuation in fresh funding, Infra.Market was reportedly valued at $4 billion in 2022. Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.Market sells construction materials, infrastructure goods, and technical equipment. It is targeting the $140 construction materials market, with a strong focus on the infrastructure sector. The company caters to both institutional customers (B2B) and retail outlets (D2R) in the construction materials sector. As per the company, it supplies across 16 states in India and exports to markets such as Dubai, Singapore, Jordan, and Italy, among others. Last year, Infra.Market had divested 10% of its stake worth $20 million in RDC Concrete to investors led by Ashish Kacholia. The former had acquired RDC Concrete for $90 million in September 2021. It also has a majority stake in Strata Geosystems, Equiphunt and Halonix. As of now, Infra.Market has raised around $500 million across equity and debt. According to the startup intelligence data platform TheKredible, Tiger Global was the largest external stakeholder with 21.33% followed by Accel and Nexus Ventures which commanded 16.87% and 8.46%, respectively, before this round. Infra.Market is one of the handful of unicorns in the country which managed over nine-fold growth in gross scale between FY21 and FY23 and remained profitable. As per TheKredible, its gross revenue rose to Rs 11,846 crore in FY23 from Rs 1,240 crore in FY21. During the fiscal year ending March 2023, the firm’s profit slipped 17% to Rs 155 crore from Rs 187 crore in FY22. It competes with Zetwerk, OfBuisness and Moglix.
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Quadria bets $100 mn on IPO-bound contract drugs manufacturer Aragen
VCCircle
·
6m ago
Medial
Quadria Capital, a healthcare-focused private equity firm, is investing $100 million in Hyderabad-based Aragen Life Sciences, a contract drug development and manufacturing company. This investment includes a fresh capital infusion and a small component of share sales by existing shareholders. Aragen plans to use the funds to expand its capabilities to meet increasing demand in the US and Europe. The investment is considered a pre-IPO fundraise as Aragen is exploring an initial public offering.
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Infra.Market, Innoven, ICICI Venture, and Greenko founders in news
VCCircle
·
4m ago
Medial
Venture debt backers of building material marketplace Infra.Market are looking to sell a stake worth up to $30 million in a secondary transaction prior to an IPO, according to reports. This involves Innoven Capital, Strides Ventures, and Trifecta Capital, which together hold approximately 1.5% of the company. Infra.Market founders Aaditya Sharda and Souvik Sengupta are also noted for their involvement in the business.
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Hyderabad-based grocery chain engages a banker for a $100 mn pre-IPO fundraise
Livemint
·
11d ago
Medial
Hyderabad-based grocery chain Ratnadeep Retail Pvt Ltd is planning a pre-IPO fundraise of over $100 million, facilitated by DAM Capital. The company aims to raise ₹500-600 crore in fresh capital, with some promoter stake up for monetization. This strategic move comes as Ratnadeep prepares to expand operations and potentially list on public markets within the next 12-24 months, amidst competition from larger national players like Spencer's and Reliance Fresh.
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IPO-bound OfBusiness raises Rs 100 Cr led by Cornerstone Ventures
Entrackr
·
3m ago
Medial
OfBusiness, an industrial goods and services procurement platform set to launch its IPO in the second half of 2025, has raised Rs 100 crore (about $11.7 million) led by Cornerstone Ventures. Previously, OfBusiness raised over $650 million across various rounds, including a $325 million round led by Alpha Wave, Tiger Global, and SoftBank, at a valuation of $5 billion. The proceeds from the new investment will be used to drive digital adoption and financing access for SMEs. Co-founded in 2016, OfBusiness provides raw material procurement and financing solutions to SMEs in the manufacturing and infrastructure sectors. The company reported a 25.8% year-on-year increase in revenue to Rs 19,296 crore for FY24, with a 30.2% profit growth to Rs 603 crore. OfBusiness competes with firms like Zetwerk, Infra.Market, and Moglix.
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IPO-bound Ola Electric raises $50 Mn debt from EvolutionX
Entrackr
·
1y ago
Medial
Ola Electric has raised Rs 410 crore (approximately $50 million) via non-convertible debentures from EvolutionX. The board at Ola Electric has passed a resolution to issue 41,000 NCD (non-convertible debentures) at an issue price of Rs 100,000 each to raise Rs 410 crore, its regulatory filing sourced from RoC shows. This is the second debt financing for Ola Electric in the last six months. In October 2023, it received $385 million in a funding round mix of equity and debt from Temasek-led marquee investors and the State Bank of India (SBI). According to startup data intelligence platform TheKredible, the firm has raised more than $1 billion across equity and debt and was valued at $5.4 million during the last round. ET reported the development first. Ola Electric has been working on its lithium-ion cell manufacturing facility with an initial capacity of 5 gigawatt hours in phase I which will be further scaled up in phases to 100 gigawatt hours at full capacity. Besides focusing on electric scooters, the firm has also introduced its motorcycle line-up scheduled to be launched by the end of this year. In December 2023, Ola Electric filed its draft red herring prospectus (DRHP) with the Security Exchange Board of India (SEBI) for an initial public offering (IPO) to raise Rs 5,500 crore ($660 million). As per the company, it will utilize the primary proceeds for the expansion of the capacity of its cell manufacturing plant, repayment or pre-payment of the indebtedness, investment into research and product development, and general corporate purposes. Ola Electric is the second IPO-bound company that raised debt financing in recent times. Last week, fintech firm MobiKwik raised Rs 50 crore ($6 million) in debt from BlackSoil Capital. Entrackr exclusively reported the development. Temasek-backed EvolutionX has backed notable companies like Udaan, Mensa Brands, PharmEasy and LendingKart.
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IPO-bound MobiKwik raises Rs 50 crore in debt funding from BlackSoil
IndianStartupNews
·
1y ago
Medial
Gurugram-based fintech firm MobiKwik has secured INR 50 crore (approximately $6 million) in debt funding from BlackSoil. The funds will help the company prepare for its upcoming IPO. MobiKwik recently refiled its draft red herring prospectus (DRHP) with SEBI to raise up to INR 700 crore through a fresh issue of shares. Although the company was unprofitable in recent fiscal years, it turned profitable in the six months leading up to September 2023. MobiKwik plans to allocate funds to its financial services, payment services, and product and technology offerings.
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Saudi's SMASCO sets issue price for $240 mn IPO
VCCircle
·
1y ago
Medial
Saudi Arabian staffing company, SMASCO, has announced the final IPO price for its initial public offering on the Saudi Exchange. The company aims to raise up to $240 million by offering 120 million shares at a price of 7.50 riyals per share, representing a 30% stake. The individual investor subscription process will begin next week. This IPO is part of Saudi Arabia's efforts to deepen its capital markets and attract investment. However, the IPO market in the MENA region has experienced a slowdown this year, with IPO proceeds down 66% compared to the previous year.
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