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InfraMarket sells 10% stake in subsidiary for $20 mn
short by Harsh / on Tuesday, 5 December, 2023
InfraMarket, a platform for sourcing construction material, has parted with a 10% stake in its subsidiary, RDC Concrete, to a group of investors led by Ashish Kacholia for $20 million. The deal values RDC Concrete at $225 million, significantly higher than its $90-million worth in 2021 when InfraMarket acquired it. InfraMarket intends to take RDC public in 12-24 months.
read more at The Arc