Mumbai, December 4, 2023: Infra.Market, a front-running player in India’s construction materials sector, strategically divests approximately 10% of its stake in RDC Concrete to investors led by Ashish Kacholia. This move sets the stage for RDC Concrete’s imminent IPO, presenting investors with a compelling opportunity to engage in the promising future of the construction materials industry.
Infra.Market’s acquisition of RDC Concrete, India’s largest independent ready-mix concrete company, in mid-2021 for US$ 90Mn marked a significant milestone. Since then, RDC Concrete has expanded from 49 to 100 plants across 48 cities, with projections to reach 180 plants by the end of FY25, underlining its dominant position in the sector. The recent fund raise values RDC Concrete at approximately US$ 225 Mn.
Souvik Sengupta, Co-founder of Infra.Market, commented, “Our investment in RDC mirrors our commitment to propelling growth and fostering leadership in the construction industry. It also acknowledges the remarkable journey of the RDC team. We eagerly anticipate RDC’s continued evolution and are excited to welcome new investors to the company.”
Led by Ashish Kacholia, this investment underscores RDC Concrete’s strong fundamentals and promising growth trajectory, leveraging Kacholia’s track record for added credibility and strategic insight.
Investor Ashish Kacholia shared insights into their stake in RDC, saying, “Our engagement with the RDC team has provided us with a profound understanding of the opportunities in India’s ready-mix concrete market and the team’s potential to seize them. We are pleased to participate in this financing round and partner with a team dedicated to building a lasting organization. We look forward to being valuable contributors to the company’s continued growth.”
Anil Banchhor, MD & CEO of RDC Concrete, expressed, “This milestone is not only a validation of our growth story but also a testament to our team’s vision in pioneering the concrete market in India. This partnership aligns perfectly with our mission to revolutionize the construction materials industry. RDC is strategically poised for unparalleled growth and innovation, redefining success benchmarks in our sector and contributing meaningfully to India’s construction material landscape.”
With India’s concrete penetration expected to rise and the construction and infrastructure sector providing robust growth opportunities, RDC Concrete, as the largest independent ready-mix concrete company, is poised for substantial revenue growth, expected to reach Rs 2,000 Cr by the end of FY24. The company’s revenue and EBITDA have already doubled since its acquisition in 2021.
As a leader in an under-penetrated category, RDC is uniquely positioned to capitalize on the growth opportunities presented by India’s construction and infrastructure sector, making it a key player in shaping the industry’s future.
Submitted by PR Agency
