Infra.Market to acquire 24% stake in Shalimar Paints
Paint

Infra.Market to acquire 24% stake in Shalimar Paints

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

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

Next Story
Infrastructure Urban

Paras Defence Subsidiary Wins Rs 460 Mn Anti-Drone Order

Paras Defence and Space Technologies (PDST) saw its shares rise 1.5 per cent to Rs 701 after its subsidiary, Paras Anti-Drone Technologies, secured a defence contract from the Ministry of Defence, Government of India, valued at approximately Rs 460.19 million.The order covers the supply of Anti-Drone Systems, including Drone Jammers, marking a significant milestone for Paras Anti-Drone in India’s growing counter-UAV segment. The contract is scheduled for execution by March 2026. According to official filings, the award is from a domestic entity, not a related party transaction, and no promot..

Next Story
Building Material

Jindal Stainless Launches First Stainless Steel Fabrication Unit in Mumbai

Jindal Stainless, India’s largest stainless steel manufacturer, through its subsidiary Jindal Stainless Steelway (JSSL), has inaugurated its first stainless steel fabrication unit at Washivali, Patalganga, Mumbai. The 4 lakh sq ft facility is designed to serve the bridge sector, fabricating critical components such as girders, arches, nuts, bolts, and handles. The unit was inaugurated by CEO & CFO Tarun Khulbe in the presence of senior leadership.Developed with an initial investment of Rs 1.25 billion, the facility strengthens Jindal Stainless’ position as a provider of end-to-end fabr..

Next Story
Infrastructure Energy

Hero Future Energies Secures Rs 19.08 Bn for 120 MW Hybrid Project

Hero Future Energies (HFE), through its SPV Clean Renewable Energy Hybrid Three, has secured Rs 19,080 million in funding from State Bank of India (lead) and Canara Bank for the development of its 120 MW renewable energy (RE) hybrid project in Kurnool, Andhra Pradesh.The project, contracted with SJVN, integrates wind, solar, and storage technologies to provide reliable peak power. The funding, structured with a 21-year repayment tenure, will support timely project execution and the commencement of commercial operations.This financial closure underscores the banking community’s confidence in ..

Latest Updates

Products

Smart Hot Water

Products

Smart Heritage Lock

Products

Ultra-Efficient Motors

Products

Smart Solutions

Products

Next-Gen Seal

Products

Smart Kitchen Chimney

Products

Premium Coverage

Products

Noise Blocker

ECONOMY & POLICY

India’s Rs 370 Bn Petrochemical Expansion to Shift Asian..

Real Estate

Maharashtra Sets Up Authority to Boost Self-Redevelopment

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?