IPO-Bound Infra.Market Eyes Reverse Listing Via Shalimar Paints In ₹10,440 Cr Share Swap
Building materials unicorn Infra.Market is exploring a reverse-listing route through Shalimar Paints, with the listed paints company considering acquiring equity…
IPO-bound building materials company Infra.Market is considering a reverse listing through a strategic deal with listed paints company Shalimar Paints, valued at approximately ₹10,545 Cr. Under the proposal, Infra.Market's current shareholders would transfer their equity shares and CCPS of Hella Infra Market Ltd to Shalimar Paints, receiving Shalimar Paints' shares and CCPS in return, determined by independent valuation reports.
If successful, Hella Infra Market may become an unlisted subsidiary of Shalimar Paints, effectively placing Infra.Market's business under a listed structure. Shalimar Paints sees this as a chance to bring Infra.Market's scale and ambition into the public markets via a company with its established governance framework. The board is set to vote on the transaction in principle and convene an extraordinary general meeting to obtain shareholder approvals.
This news follows Infra.Market's recent approval from SEBI for a potential IPO, which will be updated soon.
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