Infra.Market, a construction materials company, has divested approximately 10 per cent of its stake in RDC Concrete (RDC),a ready-mix concrete company, to investors led by Ashish Kacholia. Current fund raise has closed at a valuation of approximately US $225 million.
RDC Concrete is expected to have a revenue of Rs 2,000 crore by the end of financial year 2023-24. This divestment also paves the way for RDC's IPO plans in the near future.
Infra.Market had acquired RDC for US$ 90 million in mid of 2021 when it had 49 ready-mix concrete (RMC) plants, which has currently grown to 100 plants across 48 cities. It expects to have around 180 RMC plants by the end of FY25.
India’s concrete penetration is the lowest among large economies of the world and the penetration of concrete as a percentage of total cement usage is expected to increase in near future.
