India, July 8 -- IPO-bound building materials platform Infra.Market has picked up a majority stake in Metro Group, a ceramic tiles manufacturing company, in a share swap deal worth INR 200 Cr, the company's filings with the Ministry of Corporate Affairs revealed.

Sources close to the development told Inc42 that the unicorn, Infra.Market, intends to strengthen its foothold in the tiles industry with this move.

Queries sent to Infra.Market didn't elicit any response until the publishing of this article.

The fresh development comes almost a year after Infra.Market acquired a 57% stake in Emcer Tiles. Earlier this year, Infra.Market claimed that it became the second-largest player in India's ceramics industry, with a manufacturing capacity...