Particle.news
Download on the App Store
5 ARTICLES
·
3h ago

Infra.Market Files Confidential IPO Papers With SEBI, Targets About ₹5,000 Crore

The filing follows a ₹732 crore pre-IPO raise that shored up founder stakes ahead of a planned listing.

Infra.Market and Rays Power Infra file DRHPs for IPOs; check detials

Overview

  • Infra.Market has submitted a draft prospectus to SEBI through the confidential route, with no price band or timetable disclosed.
  • The offering is pegged at roughly ₹5,000 crore, with reports indicating a ₹4,500–₹5,500 crore range and an approximately equal split between fresh shares and an offer for sale.
  • The company has lined up a large banker syndicate that includes Kotak Mahindra Capital, IIFL Capital, Goldman Sachs, Jefferies, ICICI Securities, HSBC Securities, Motilal Oswal Financial Services, and Nuvama Wealth Management.
  • Last month’s pre-IPO round raised about ₹731–732 crore at an implied $2.8 billion valuation, led by NKSquared and promoter-linked Silverline Homes to increase founders’ ownership and liquidity.
  • For FY24, Infra.Market reported ₹14,530 crore in revenue and ₹378 crore in profit, with growth driven by private-label manufacturing and acquisitions such as RDC Concrete, Shalimar Paints, Emcer Tiles and Metro Group.