Akshata Sharma
Share
Construction marketplace unicorn Infra.Market has now divested another minority stake in its subsidiary RDC Concrete for $20 Mn.
The investors to have bought the stake include Zerodha cofounder Nikhil Kamath, Capri Global Family Office, Sumeet Kanwar from Verity and Abhijeet Pai-led Wear Steels.
The development comes months after it sold a 10% stake in RDC Concrete to public market investors, led by ace investor Ashish Kacholia for about $20 Mn, in November last year.
The development comes months after it sold a 10% stake in RDC Concrete to public market investors, led by ace investor Ashish Kacholia for about $20 Mn, in November last year.
Back in December last year, Infra. Market said in a statement that it was planning for an initial public offering (IPO) of its subsidiary RDC soon.
RDC is a concrete mix manufacturer Infra.Market acquired in 2021, and currently has over 100 plants across 48 cities.
Kamath said, "RDC has made remarkable progress in transforming the construction landscape in India with their readymix concrete. It is less polluting, expedites construction timelines, and significantly reduces waste and expense. By adopting cutting-edge, new-age technologies in concrete, RDC is setting a benchmark in the industry."
--Advertisement--
