Infra.Market, a rapidly expanding player in the building materials sector, has successfully secured an additional $50 million in debt financing from Mars Growth Capital, increasing its total borrowing to $150 million. This strategic move is made as the company gears up for its anticipated public listing. Mars Growth Capital has not only extended the existing $100 million facility by five years but has also increased its commitment by another $50 million. Northcote Luxe FinBrokers acted as the exclusive advisor for this transaction.
Founded in 2016 by Souvik Sengupta and Aaditya Sharda, Infra.Market has positioned itself as a leading provider of end-to-end solutions across the construction value chain. With a strong network of over 250 manufacturing units and 10,000 retail touchpoints, the company offers more than 15 product categories, including concrete, walling solutions, steel, and more. It caters to both B2B and B2R segments, ensuring comprehensive coverage of the market.
The company has witnessed impressive financial growth, with its operating revenue increasing by 23% to INR 14,530 crore in FY24, while net profit surged to INR 378 crore. Despite a recent downgrade by India Ratings due to debt refinancing concerns, Infra.Market remains focused on expanding its market presence and achieving sustainable growth.
Infra.Market’s funding journey has been significant, with over $800 million raised from investors like Tiger Global, Accel, and Nexus Ventures. This latest debt funding will be utilized to enhance existing businesses such as concrete and AAC blocks, and to facilitate its upcoming IPO. The company plans to file its Draft Red Herring Prospectus (DRHP) to raise approximately Rs 2,500 crore in the third or fourth quarter of FY26.
Souvik Sengupta, co-founder of Infra.Market, emphasized the company’s vision of becoming India’s largest building materials platform. “We are seeing growth opportunities as we rapidly expand our market presence and create a top-tier construction materials company out of India,” he stated.
Mars Growth Capital, a joint venture between MUFG Bank and Liquidity Group, is known for providing non-dilutive financing solutions to mid-market and late-stage companies. Their investment in Infra.Market reflects confidence in the company’s scale and impact on the construction supply chain.
Infra.Market’s expansion strategy includes targeting India’s $255 billion construction materials market, with a focus on infrastructure and industrial segments. The company continues to solidify its position as a leader in the ready-mix concrete and AAC block sectors, aiming to leverage its resources for further growth and innovation.
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