Infra.Market in talks to acquire electrical equipment company Halonix
Company News

Infra.Market in talks to acquire electrical equipment company Halonix

Infra.Market is in advanced discussion stage to acquire electrical equipment company Halonix at a cost of around Rs 675-750 crore.

Infra.Market had already acquired RDC Concrete for $100 million in September. 2021 has turned out to be eventful for the online acquisition platform Infra.Market. While the firm turned unicorn in February with a $100 million round directed by Tiger Global, it’s in late-stage discussions to raise another round at more than $4 billion.

Discussions have been ongoing between Infra.Market and Halonix for the last couple of months and have reached an advanced step. Infra.Market has additionally given a term sheet to Halonix.

Halonix is an electrical firm that produces LED, luminaires, home decorative, commercial and industrial lighting and street lighting along with halogens and high-intensity discharge lamps, fans and IoT-enabled devices. In 2016, it was purchased by Hong Kong-based NewQuest Capital from Actis.

Unlike most of the unicorn herd in 2021, Infra.Market is a profitable one with a sizable income. For the fiscal year ending on March 31, 2021, it generated incomes of Rs 1,243 crore as against Rs 351 crore in FY20.

Despite Covid-led trouble in FY21, Mumbai-based Infra.Market managed to increase its profits over four folds to about Rs 36 crore. The firm had already raised $200 million across two financing rounds in 2021 and is in discussions to corner another round at more than $4 billion in valuation.

Halonix’s scale has been nearly flat since FY19 when it registered Rs 404 crore in operating revenue. While its revenue during FY20 reached Rs 445.60 crore, it registered a 2% drop in operating revenue to Rs 436.5 crore in FY21. The Noida based electrical manufacturing firm is managed by Mauritius based private equity company NewQuest Capital Partners which owns a 99.42% stake in Halonix.

Image Source

Infra.Market is in advanced discussion stage to acquire electrical equipment company Halonix at a cost of around Rs 675-750 crore. Infra.Market had already acquired RDC Concrete for $100 million in September. 2021 has turned out to be eventful for the online acquisition platform Infra.Market. While the firm turned unicorn in February with a $100 million round directed by Tiger Global, it’s in late-stage discussions to raise another round at more than $4 billion. Discussions have been ongoing between Infra.Market and Halonix for the last couple of months and have reached an advanced step. Infra.Market has additionally given a term sheet to Halonix. Halonix is an electrical firm that produces LED, luminaires, home decorative, commercial and industrial lighting and street lighting along with halogens and high-intensity discharge lamps, fans and IoT-enabled devices. In 2016, it was purchased by Hong Kong-based NewQuest Capital from Actis. Unlike most of the unicorn herd in 2021, Infra.Market is a profitable one with a sizable income. For the fiscal year ending on March 31, 2021, it generated incomes of Rs 1,243 crore as against Rs 351 crore in FY20. Despite Covid-led trouble in FY21, Mumbai-based Infra.Market managed to increase its profits over four folds to about Rs 36 crore. The firm had already raised $200 million across two financing rounds in 2021 and is in discussions to corner another round at more than $4 billion in valuation. Halonix’s scale has been nearly flat since FY19 when it registered Rs 404 crore in operating revenue. While its revenue during FY20 reached Rs 445.60 crore, it registered a 2% drop in operating revenue to Rs 436.5 crore in FY21. The Noida based electrical manufacturing firm is managed by Mauritius based private equity company NewQuest Capital Partners which owns a 99.42% stake in Halonix. Image Source

Related Stories

Gold Stories

Next Story
Infrastructure Transport

Innovision Wins NHAI Toll Collection Contract at Aashpur Fee Plaza

Innovision Limited has informed stock exchanges that it has been awarded a user fee collection and facility maintenance contract by the National Highways Authority of India (NHAI). The letter of award was issued on 10 August 2026 for operations at Aashpur Fee Plaza at design kilometre 231.100 on National Highway number 91 between Aligarh and Kanpur in Uttar Pradesh. The engagement covers collection of user fees for four and more lane sections and the upkeep and maintenance of adjacent toilet blocks including replenishment of consumable items. The contract was secured through a competitive e-te..

Next Story
Infrastructure Urban

Bharat Electronics Secures Rs.5,410 mn In Orders

Bharat Electronics Limited (BEL), a Navratna Defence Public Sector Undertaking, has secured additional orders worth Rs.5,410 million (mn) since the last disclosure on 31 July 2026. The fresh awards raise the company's recently reported intake and were announced by way of a regulatory filing on 10 August 2026. The orders span multiple business verticals and are incremental to contracts already under execution. The update follows the company's routine disclosure obligations to the stock exchanges. Major orders received include communication equipment, electro optics, ammunition fuzes, Chemical B..

Next Story
Infrastructure Urban

United Drilling Tools Receives US Order For Gas Lift Mandrel

United Drilling Tools Limited said it has received an order from Tri Lift Services Inc of the United States for the supply of a gas lift mandrel to be used in the oil and gas industry. The company said the disclosure was made to listing authorities under the Securities and Exchange Board of India listing rules and the SEBI master circular of November 2024. The notice set out the nature of the contract as commercial and awarded by an international entity. The order is to be executed in the ordinary course of business and carries an estimated contract value of Rs four point eight three million (..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement