Infra.Market divests 10% stake in RDC Concrete to raise $20 million

05 Dec 2023 CW Team

Infra.Market, a company specialising in construction materials, recently announced the divestment of approximately 10% of its stake in RDC Concrete (RDC), a ready-mix concrete company, to a group of investors led by Ashish Kacholia.

The concluded fund raise has resulted in a valuation of about $ 225 million. It is anticipated that by the conclusion of the financial year 2023-24, RDC Concrete will have generated a revenue of Rs 20 billion.

This divestment serves as a precursor to RDC's plans for an initial public offering (IPO) in the foreseeable future.

In mid-2021, Infra.Market had acquired RDC for $ 90 million when the latter possessed 49 ready-mix concrete (RMC) plants. Currently, RDC boasts a total of 100 plants spread across 48 cities, and the company envisions expanding this number to approximately 180 RMC plants by the end of FY25.

Claiming a notable achievement, Infra.Market asserts that both its revenue and EBITDA have witnessed a growth of over 2x since the acquisition in 2021.

It is noteworthy that India exhibits the lowest concrete penetration among the world's major economies. However, there is an expectation that the penetration of concrete, as a percentage of total cement usage, will rise in the near future.

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