Infra Market sells 10% stake in RDC Concrete, generates $20 million from the sale

Infra Market, a B2B construction materials startup backed by Tiger Global, has divested a 10% stake in RDC Concrete to investors led by Ashish Kacholia, yielding $20 million. Souvik Sengupta, co-founder of Infra Market, explained in a CNBC-TV 18 interview that the stake sale is aimed at securing benchmark valuations for the company in preparation for its upcoming IPO. The deal, preceding RDCs initial public offering (IPO), now values the company at $225 million. In mid-2021, Infra Market acquired RDC Concrete for $90 million, at a time when it operated 49 ready-mix concrete plants. Currently, the company claims to have expanded its presence to 100 plants across 48 cities.