Accel-backed construction materials solutions company Infra.Market has secured ₹730 crore ($84–85 million) in a new funding round. The round was led by Nikhil Kamath’s Nksquared family office, which invested ₹200 crore, while company founders Souvik Sengupta and Aaditya Sharda infused ₹250 crore. Existing investors contributed the remaining ₹280 crore. The latest fundraise values Infra.Market at ₹24,600 crore ($2.8 billion), according to sources.
Infra.Market is preparing to file its draft red herring prospectus (DRHP) with the market regulator in the coming weeks, paving the way for an IPO later this year. The latest round represents the company’s Series G funding, with participation from existing investors such as Accel, Tiger Global, Nexus, and Evolvence. The round strengthens liquidity ahead of the IPO and lifts the founders’ combined stake to nearly 30%, officially recognizing them as promoters. Sources added that both founders secured promoter financing to contribute capital to this round.
Infra.Market ended FY25 with ₹18,000 crore in revenue, an EBITDA of ₹1,500 crore, and a profit after tax (PAT) of ₹300 crore.
As per RoC filings, the company’s revenue grew 23% year-on-year to reach ₹14,530 crore, while its PAT surged 2.5 times to ₹378 crore.
The latest fundraise comes on the heels of Infra.Market’s $150 million debt financing in June from MARS Growth Capital, a joint venture of MUFG Bank and Liquidity Group, as the company prepares for its public listing.
This marks the second funding round this year for the IPO-bound firm, which had earlier raised $120 million from existing backers including Tiger Global, Foundamental, and Evolvence. That round also attracted participation from prominent investors such as Ashish Kacholia, Nikhil Kamath, Abhijit Pai, Sumeet Kanwar, Nuvama, Capri Global, and others.
Established in 2016 by Souvik Sengupta and Aaditya Sharda, Infra.Market operates across the construction value chain, offering more than 15 categories of building materials such as concrete, steel, walling solutions, tiles, paints, and electricals.
The company has built a strong presence with a network of over 250 manufacturing facilities and 10,000 retail touchpoints nationwide.
Serving both institutional clients (B2B) and retail outlets (B2R), Infra.Market positions itself as the second-largest player in India by revenue in the ready-mix concrete (RMC) segment, while also ranking second by capacity in AAC blocks and flooring tiles.
