Infra.Market Kicks Off Rs 5,000 Cr IPO Journey
Infra.Market, a leading Indian B2B marketplace, has initiated the process for an initial public offering (IPO) worth Rs 5,000 crore ($564 million). The company has chosen the confidential pre-filing route provided by SEBI, joining a list of successful Indian startups that have opted for this method.
Founded in 2016 by Souvik Sengupta and Aaditya Sharda, Infra.Market operates across more than 15 categories, selling through B2B institutional channels and a retail network spanning over 10,000 touchpoints. The company's IPO is expected to be a 50:50 split between an offer-for-share (OFS) and a primary issue.
Before the planned IPO, an anchor investor held approximately 8.8% of the shares, with around 60% of shares held by external investors in total. Infra.Market recently raised Rs 732 crore ($82.6 million) from investors, just weeks prior to the IPO filing. In the financial year 2025, the company clocked revenues of about Rs 18,000 crore, with an EBITDA of Rs 1,500 crore and a profit after tax of Rs 300 crore. However, the company's net debt surged nearly 40% year-on-year to Rs 4,370 crore as of March 2025.
Infra.Market's IPO, worth Rs 5,000 crore, is set to be a significant event in the Indian startup ecosystem. The company's growth trajectory, despite the increase in net debt, indicates its potential in the B2B marketplace sector. With a strong retail network and diverse product categories, Infra.Market is poised to make a notable impact on the public market.
