Infra.Market Selects 8 Investment Banks for $500M+ IPO

• Infra.Market, backed by Tiger Global and Accel, has chosen eight investment banks for its upcoming IPO, aiming to raise over $500 million.
• The selected banks include Kotak Mahindra Capital, IIFL Capital, Goldman Sachs, Jefferies, ICICI Securities, HSBC Securities, Motilal Oswal Financial Services, and Nuvama Wealth Management.
• The IPO is expected to be a mix of fresh issue and secondary sales, providing an exit for top VC investors.
• The issue size is projected to be between $500 million and $700 million, with potential for a higher amount based on market conditions.
• Infra.Market's subsidiary, RDC Concrete, plans its own public market debut in January 2025 after divesting a 10% stake worth $20 million in 2023.

Source: Moneycontrol