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

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

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.

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.

Next Story
Infrastructure Urban

Goa Approves Rs 1.92 Billion Mapusa Bus Stand Project

The Goa state government has announced plans to construct a new, modern bus stand in Mapusa, addressing a long-standing demand from Bardez residents. The project, to be executed under a public-private partnership (PPP) model, will involve an investment of approximately Rs 1.92 billion.The decision comes after reports highlighted the deteriorating condition of the existing bus stand, which suffers from potholes, garbage accumulation and waterlogging during the monsoon.The new bus stand will be developed over an area exceeding 27,000 square metres and will offer significant improvements, includi..

Next Story
Infrastructure Transport

Maharashtra Approves Rs 23.49 Billion Metro Line 11 Project

The Maharashtra government has approved the Rs 23.49 billion Metro Line 11 (Green Line) project, which will link Wadala to the Gateway of India through 14 stations, aiming to reduce congestion in central and south Mumbai. According to a resolution from the state’s urban development department (UDD), the Brihanmumbai Municipal Corporation (BMC) will contribute Rs 2.41 billion and the Mumbai Port Authority (MbPA) Rs 804 million, as the line improves connectivity in their areas. The state and central governments will each provide Rs 3.14 billion.In case of cost overruns, local authorities are r..

Next Story
Infrastructure Transport

Mumbai’s CSMT Metro Station Nears Completion on Aqua Line

The construction of the Chhatrapati Shivaji Maharaj Terminus (CSMT) Metro station on the Mumbai Metro-3 Aqua Line is nearing completion. Photos shared by X user @haldilal reveal the station’s striking arched entrance, glasswork and modern façade.Known as the Aqua Line, Metro 3 is Mumbai’s first fully underground corridor. It spans 33.5 km between Cuffe Parade (Colaba) and Aarey, with 27 stations — 26 underground and one at grade.The Three Phases of Metro-3Phase 1 – Aarey to Bandra-Kurla Complex (BKC): The 12.69 km section opened to the public on 7 October 2024.Phase 2A – BKC to Worl..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?