Mumbai based construction materials platform infra.market is set to raise up to ₹1,250 crore through debt, months after filing confidential IPO papers, by pledging company assets and promoter shareholdings as collateral.
Debt Structure and Private Placement
According to regulatory filings, the company’s board has approved the issuance of up to 1,25,000 non-convertible debentures (NCDs) with a face value of ₹1,00,000 each via private placement, aggregating to ₹1,250 crore.
Out of this, infra.market has already secured ₹700 crore from Singapore based private credit platform Ascertis Credit by issuing 70,000 NCDs at the same face value.
The debt raise is backed by a comprehensive security structure. Infra.Market is offering its assets as collateral and has pledged promoter shareholdings held by CEO Souvik Pulakesh Sengupta and COO Aaditya Gajendra Sharda, along with stakes held by other promoter entities.
Additionally, shares of group companies including RDC Concrete India Limited and its subsidiaries Neptune Readymix Concrete Private Limited and Robo Quarries Private Limited have also been pledged.
Fundraising Context and IPO Plans
The debt round comes at a strategic juncture for Infra.Market. In September 2025, the company raised $83 million in a Series G funding round led by Silverline Homes, with participation from Tiger Global, Accel, Nexus Ventures, NK Squared, and Evolvence India.
In January 2026, the company secured approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering.
Financial Performance
For FY25, Infra.Market reported a 27% rise in gross revenue (GMV) to ₹18,472 crore (approximately $2.1 billion). However, net profit declined nearly 42% to ₹220 crore during the same period, reflecting margin pressures amid scale expansion.
The latest debt raise signals Infra.Market’s intent to strengthen its balance sheet and liquidity position ahead of its anticipated public listing, while leveraging structured credit to fund growth in India’s infrastructure and construction ecosystem.
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