Exclusive: Construction Unicorn Infra.Market Looks To Raise $60 Mn Debt

Infra.Market intends to raise the debt by next two months The fresh development came almost a month after Infra.Market bagged $12 Mn in debt In FY 23, Infra.Market's sales jumped 90% to INR 11 ,846.5 Cr in FY 23, while profit dipped 17% to INR 155.2 Cr. Construction startup Infra.Market is looking to raise around $60 Mn (INR 500 Cr) in debt. The Mumbai-based company will be raising this capital in multiple tranches over the next two months, as per the resolution passed by Infra.Market's board of directors. This seems to be the working capital that the startup is raising ahead of this year. The development comes only a month after Inc42 had exclusively reported that Infra.Market bagged around $12 Mn in a debt from SK Finance. Later, the startup also raised debt from Kairus Dadachanji of Dadachanji Group. Last year, Infra.Market was in talks to secure $150 Mn in funding from the US-based Varde Partners. However, the startup never officially announced raising any capital from Varde Ventures. It went on to acquire a majority stake in Strata Geosystems for INR 910 Cr ($109 Mn) from the US-based Glen Raven Technical Fabrics in June 2023. Founded in 2016 by Aaditya Sharda and Souvik Sengupta, Infra.Market manufactures construction materials under its private-label brands. It has a B2B, retail and B2C network and leverages technology to digitise the procurement process.

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