+
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.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Assam Gets Approval For 350,000 PMAY Homes

Assam Chief Minister Himanta Biswa Sarma met Union Agriculture Minister Shivraj Singh Chouhan in New Delhi, where the minister handed an approval document for 310,000 new homes under the Pradhan Mantri Awas Yojana. The chief minister subsequently posted on X expressing gratitude and noting that the minister had formally handed approval for 380,000 homes as well. The release and the social media post contained varying figures, with broader references to 350,000 homes reported in some summaries. The approvals carry central assistance equivalent to Rs 50 billion (bn), corresponding to the five th..

Next Story
Infrastructure Urban

KPIGreen Achieves Highest Energised Capacity of 630+ MW DC

KPI Green Energy energised more than 630 MW DC of capacity in the June to August quarter, marking the highest quarterly addition in the company's history. The capacity was brought online across its Independent Power Producer (IPP) and Engineering, Procurement and Construction (EPC) businesses. The company said the achievement reflected the scale, speed and consistency of its project execution engine. The firm described the quarter as a material operational milestone since its founding. The milestone covers a diversified mix of IPP assets and projects executed under the EPC vertical, spanning u..

Next Story
Infrastructure Energy

Adani Energy Solutions Wins Rs 47 bn Maharashtra Transmission Project

Adani Energy Solutions has won a transmission contract in Maharashtra valued at Rs 47 billion (Rs 47 bn) to evacuate 4,500 megawatt (MW) of renewable and storage power. The company informed exchanges that the project will facilitate pumped storage potential near Satara and strengthen the inter-regional corridor between the Western and Southern grids. The award follows a competitive bidding process and will support renewable energy evacuation to major load centres in the state. The scope includes establishment of a 765/400 kV substation at Satara, construction of a Kolhapur-Satara 765 kV double..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code