Ashish Kacholia-Led Investors Secure 10% Stake in RDC Concrete

Renowned investor Ashish Kacholia and his group of investors have successfully acquired a 10% stake in RDC Concrete, a Tiger Global-backed business-to-business construction material maker affiliated with Infra.Market. This strategic move comes as part of Infra.Market’s divestment plan ahead of its anticipated IPO. The deal, valued at $20 million, puts RDC Concrete’s overall worth at an impressive $225 million.

Infra.Market had initially acquired RDC Concrete, a leading ready-mix concrete company, for $90 million in 2021. While a $150 million funding round with Varde Partners is currently in progress, this recent stake sale showcases the company’s commitment to optimizing its portfolio. Other investors in Infra.Market include Accel Partners, Evolvence India, Sistema Asia Fund, Foundamental Gmbh, and Nexus Venture Partners.


Founded in 2016 by Souvik Sengupta and Aaditya Sharda, Infra.Market leverages technology to streamline the procurement process in the construction industry, focusing on high-volume, branded construction products. The company, which recently received a $50 million growth capital injection, operates in 20 states across India and has expanded its global footprint with offices in Singapore and Dubai.

RDC Concrete, now under the stewardship of Ashish Kacholia-led investors, anticipates robust growth. The company currently owns 100 plants in 48 cities and aims to increase its ready-mix concrete (RMC) plants to approximately 180 by the end of the fiscal year 2025. The release predicts RDC Concrete’s revenue to reach ₹2,000 crore by the conclusion of the current financial year, reflecting a more than 2x increase since its acquisition in 2021.

Infra.market, for the financial year ending March, reported consolidated revenues of ₹11,000 crore, an Ebitda of ₹650 crore, and a profit after tax of ₹300 crore. These impressive figures underscore the company’s strong position in the market, although official results are yet to be filed.

Despite India’s low concrete penetration compared to other major economies, there’s a noticeable shift towards manufactured concrete, especially in non-metro areas. Local players currently dominate this sector, presenting a unique opportunity for RDC Concrete and its investors. Ashish Kacholia expressed confidence in RDC’s potential, citing the substantial growth opportunities in India’s ready-mix concrete market fueled by the expanding construction and infrastructure sector, including projects such as metros, airports, and highways.

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