Infra.Market to acquire 24% stake in Shalimar Paints

20 Jan 2022 CW Team

Established in 1902, Shalimar Paints has been in the business of industrial coatings, decorative paints and allied product types.

Infra.Market’s decision will not only pit the construction solutions firm against paint biggies like Berger Paints, Asian Paints, JSW Paints, Kansai Nerolac and Indigo Paints, but it will additionally allow the unicorn to deepen its play in making a horizontal construction material-managed marketplace. In September 2021, The Tiger Global-supported firm bought 100% in RDC Concrete India Private Limited, the biggest non-cement ready mix concrete firm in India worth approximately Rs 730 crore and went on to purchase Hyderabad-based Equiphunt in a $10 million contract.

For the legacy paints brand, the association might support it getting back in the game. In FY21, the firm clocked an operating income of Rs 325.56 crore and a loss of Rs 49.35 crore. The corresponding numbers for the prior fiscal year reached Rs 343.85 crore and Rs 37.73 crore, respectively.

Begun in 2016 by Aaditya Sharda and Souvik Sengupta, Infra.Market is worth $2.5 billion and is the biggest B2B online infra acquisition platform in India. The firm has been increasing at a brisk pace, taking its income from Rs 350 crore in FY20 to Rs 1,242 crore in FY21. Private labels make up about 60% of the income of the profitable unicorn, which has its aggregates, branded concrete, construction chemicals, walling solutions, bath fittings, and sanitary tiles brand. The firm is now clocking a revenue run rate of Rs 6,000 crore for the coming fiscal.

Image Source

Also read: Infra.Market in talks to acquire electrical equipment company Halonix

Also read: Infra.Market acquires RDC Concrete India

Infra.Market, a leading B2B online infra procurement platform in the country is all set to buy a 24% stake in Shalimar Paints Limited (SPL). The firm has also proposed to invest Rs 270 crore in Shalimar Paints via a combination of equity and debentures. Established in 1902, Shalimar Paints has been in the business of industrial coatings, decorative paints and allied product types. Infra.Market’s decision will not only pit the construction solutions firm against paint biggies like Berger Paints, Asian Paints, JSW Paints, Kansai Nerolac and Indigo Paints, but it will additionally allow the unicorn to deepen its play in making a horizontal construction material-managed marketplace. In September 2021, The Tiger Global-supported firm bought 100% in RDC Concrete India Private Limited, the biggest non-cement ready mix concrete firm in India worth approximately Rs 730 crore and went on to purchase Hyderabad-based Equiphunt in a $10 million contract. For the legacy paints brand, the association might support it getting back in the game. In FY21, the firm clocked an operating income of Rs 325.56 crore and a loss of Rs 49.35 crore. The corresponding numbers for the prior fiscal year reached Rs 343.85 crore and Rs 37.73 crore, respectively. Begun in 2016 by Aaditya Sharda and Souvik Sengupta, Infra.Market is worth $2.5 billion and is the biggest B2B online infra acquisition platform in India. The firm has been increasing at a brisk pace, taking its income from Rs 350 crore in FY20 to Rs 1,242 crore in FY21. Private labels make up about 60% of the income of the profitable unicorn, which has its aggregates, branded concrete, construction chemicals, walling solutions, bath fittings, and sanitary tiles brand. The firm is now clocking a revenue run rate of Rs 6,000 crore for the coming fiscal. Image Source Also read: Infra.Market in talks to acquire electrical equipment company Halonix Also read: Infra.Market acquires RDC Concrete India

Real Estate

17 Sep 2025

Indian REITs Offer 6-7.5 per cent Yield, Surpassing Many Global Markets

Indian Real Estate Investment Trusts (REITs) are delivering average yields of 6–7.5 per cent for unitholders, outperforming many mature markets, including the US, according to a report by Credai and Anarock.Credai, the apex body of Indian real estate developers, and property consultant Anarock released the report Indian REITs – A Gateway to Institutional Real Estate at an event in India.Currently, India has five listed REITs – Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, Nexus Select Trust, and Knowledge Realty Trust. Nexus Select Trust pr..

Infrastructure Energy

17 Sep 2025

Insolation Energy Wins 226 MW Solar Projects Under PM-KUSUM

Insolation Energy on Monday announced securing multiple solar projects totalling 226.45 MW, with an investment of Rs 7.5 billion, under the PM-KUSUM scheme. The orders were awarded to its wholly-owned subsidiary, Insolation Green Energy Pvt Ltd, by Jaipur Vidyut Vitran Nigam Limited for 20 sites and Ajmer Vidyut Vitran Nigam Limited for 115 sites, the company informed the exchanges.“The combined SPV solar power plants will total 226.45 MW under PM-KUSUM Component A, with the final levelised tariff at Rs 3.04 per unit for 16 sites, Rs 2.82 per unit for 5 sites, Rs 2.75 per unit for 53 sites, ..

Infrastructure Energy

17 Sep 2025

Numaligarh Refinery Awards EPC Contract for Rooftop Solar Projects

State-owned Numaligarh Refinery Ltd. (NRL) has awarded a Letter of Award to Solarium Green Energy Ltd. for the rate contract covering the Engineering, Procurement, and Construction (EPC) of grid-connected rooftop solar PV projects at various locations. The projects fall within the categories of 51–200 kW and 201–1000 kW. Notable projects include a 140 kW rooftop solar plant at NRL Assam, a 760 kW plant at NRL Assam, and a 280 kW plant at NRL West Bengal.The supply order covers ex-manufacturing works and the dispatch price for plant and equipment for the 140 kW, 760 kW, and 280 kW rooftop s..