Infra.Market Sets Sights on a Monumental IPO

MUMBAI: Infra.Market, a startup backed by Tiger Global, is making headlines with its ambitious plan to raise $1 billion through an initial public offering (IPO), eyeing a valuation that could soar up to $5 billion. Sources close to the development have revealed that the company, last valued at $2.8 billion, is targeting a Diwali listing, with draft IPO papers expected to be filed by June.

Strategic Moves and Market Confidence

"The company's IPO plans are progressing as scheduled, undeterred by the current market trajectory. Barring any delays in the IPO approval process, the listing is expected to proceed as planned. Infra.Market is considering a valuation range of $3-5 billion, with bankers advocating for the higher end of the spectrum," a source disclosed to TOI. Infra.Market has opted not to comment on these developments.

Investor and Promoter Stakeholdings

Tiger Global emerges as the largest external investor in Infra.Market, holding a significant 21.3% stake, followed by Accel with 16.9%. The promoters, Aaditya Sharda and Souvik Sengupta, collectively own 31.7% of the company. Since its inception in 2016, this Mumbai-based unicorn has carved a niche for itself in the B2B sector, standing out as one of the few new-age companies to achieve profitability.