Infra.Market's subsidiary RDC Concrete raises USD 20 million from investors, including Nikhil Kamath and Capri Global Family Office, to expand its construction materials business.
Photograph: Amit Dave/Reuters
New Delhi, May 31 (PTI) Construction materials supplier Infra.Market arm RDC Concrete has raised around USD 20 million from investors to expand its business.
In a statement on Friday, Infra.Market said it has "divested minority stake in its subsidiary RDC Concrete to certain investors."
"The company has raised approximately USD 20 million from investors led by Nikhil Kamath," it added.
The round saw participation from various investors such as Nikhil Kamath, Capri Global Family Office, Sumeet Kanwar from Verity and Abhijeet Pai-led Wear Steels.
Infra.Market had earlier divested a 10 per cent stake in RDC Concrete to certain investors led by Ashish Kacholia in November 2023.
Infra.Market acquired RDC Concrete, in mid-2021 and has currently grown to more than 100 plants across 48 cities.
Souvik Sengupta, Co-founder, Infra.Market, said, "The investments in RDC by marquee investors is a testament to the team at RDC which has been at the forefront of an astonishing journey in building a category-defining building material company."
"We look forward to witnessing RDC's continued evolution and contributing to its promising journey in the sector," he added.
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