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

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Infrastructure Energy

05 Nov 2025

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Infrastructure Urban

05 Nov 2025

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..