Infra.Market has secured Rs 150 crore (approximately $18 million) in debt financing over the past two months. The debt infusion for the Mumbai-based firm follows the $50 million equity round from the Mars Unicorn Fund, a joint venture of Liquidity Group and MUFG.
The board at Infra.Market has approved a special resolution to issue non-convertible redeemable debentures to raise Rs 150 crore. Previously, the committee had approved a resolution raise Rs 500 crore through debentures. The new infusion is the tranche of Rs 500 crore.
Yubi has invested Rs 80 crore while Raymond Limited, IKF Home Finance, and Samunnati Financial (through their NBFC treasuries) participated with Rs 25 crore, Rs 25 crore, and Rs 20 crore, respectively.
Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.Market sells construction materials, infrastructure goods, and technical equipment. It targets the growing construction materials market, with a strong focus on the infrastructure sector.
The company caters to institutional customers (B2B) and retail outlets (D2R) in the construction materials sector. As per the company, it supplies across 16 states in India and also exports to markets such as Dubai, Singapore, Jordan, and Italy, among others.
