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Infra.Market Backers Plan $30 Million Pre-IPO Stake Sale
Mint New Delhi
|April 02, 2025
The startup, valued at $2.7 billion in a January funding round, plans to list later this year amid India's infra boom
Infra.Market's venture debt backers are exploring a $30 million secondary transaction in an extended pre-IPO round as they look to encash their stake before the firm files its draft papers later this quarter, three people familiar with the matter told Mint.
"Venture debt firms including Innoven Capital, Strides Ventures and Trifecta Capital are looking to offload some of their stake in the upcoming round," one of the people cited above said, adding that Alteria would also participate, despite selling some of their stake.
The venture debt firms hold about 1.5% stake in the startup, according to a second person.
"Kotak Mahindra Capital Co. Ltd, the investment banking arm of the Kotak Group, is running the mandate," he said, adding that they have reached out to ultra high networth individuals (UHNIs) and high networth individuals (HNIs) to participate in the round.
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