Infra Market, an India-based construction materials marketplace, has raised over 1,050 crore rupees (around US$120 million) in a pre-IPO funding round, as reported in filings with the Registrar of Companies.

This funding round values the company at approximately 24,147 crore rupees (around US$2.7 billion).

The round saw participation from investors such as Tiger Global, Evolvence, Foundamental, and individual investors like Ashish Kacholia, Nikhil Kamath, and Abhijit Pai.

Infra Market plans to go public later this year, with support from Kotak Mahindra Capital, Goldman Sachs, Jefferies, and ICICI Securities, among others.

The company operates over 260 manufacturing units in India, supplying materials for large-scale industrial projects.

This pre-IPO funding follows a previous raise of US$50 million from Mars Unicorn Fund, which occurred a year earlier at a US$2.5 billion valuation.