India, Feb. 24 -- IPO-bound building materials platform Infra.Market is raising Rs.1,250 Cr ($137 Mn) debt from Singapore-based private credit platform Ascertis Credit.

According to the startup's regulatory filing, it will raise the capital by hypothecating its assets, pledging promoter shares in the startup as well as shares of group companies - RDC Concrete, Neptune Readymix, Robo Quarries.

Inc42 has learnt that Infra.Market will use the capital for refinancing debt, capital expenditure, merger and acquisition, among others.

A questionnaire sent to the startup didn't elicit any response till the time of publishing this story.

The development comes a few months after the startup raised Rs.731.58 Cr (about $83 Mn) in its Series G fund...