Infra.Market, the Mumbai-based online marketplace for construction materials, has filed for an initial public offering (IPO) worth ₹5,000 crore with the Securities and Exchange Board of India (SEBI), choosing the confidential filing route under Regulation 59C of SEBI’s ICDR Regulations.
The public issue will include a fresh issue of shares and an offer for sale (OFS) in nearly equal proportion, according to people familiar with the matter. Moreover, a consortium of leading investment bankers — Kotak Mahindra Capital, IIFL Capital, Goldman Sachs, Jefferies, ICICI Securities, HSBC Securities, Motilal Oswal Financial Services, and Nuvama Wealth Management — will jointly manage the IPO.
The filing comes just two weeks after the company raised ₹732 crore from promoters and existing shareholders, valuing the company at around $2.8 billion. Founders Aaditya Sharda and Souvik Sengupta, through their promoter entity Silverline Homes Pvt Ltd, invested ₹250 crore in that round, boosting their stake to about 30%. Zerodha cofounder Nikhil Kamath’s NK Squared also participated with a ₹200 crore investment, alongside global investors Tiger Global, Accel India, Evolvence India Fund, and Nexus Ventures.
Founded in 2016 by Sengupta and Sharda, Infra.Market offers a wide range of building materials — from concrete, steel, and pipes to plywood, electrical appliances, and fittings — catering to real estate developers, contractors, and architects.
The company reported strong growth in FY25, closing the year with revenue of around ₹18,000 crore and profit after tax of about ₹300 crore. In FY24, it recorded ₹14,743.5 crore in revenue and a net profit of ₹378 crore, according to Tracxn. To further support expansion, Infra.Market also raised $50 million in debt from Mars Growth Capital in June, bringing its total borrowings from the fund to $150 million.
By filing for its ₹5,000 crore IPO, Infra.Market is signaling its ambition to cement its leadership in India’s construction tech sector while tapping public markets to fuel its next phase of growth. With strong backing from global investors and robust financial performance, the unicorn looks set to build on its rapid rise in the infrastructure supply chain
