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IPO-bound Infra.Market has been downgraded by India Ratings from A-/Negative Outlook to BBB+/Negative Outlook, citing concerns around debt refinancing, liquidity pressures, and negative cash flow from operations in FY25.
The downgrade comes as the construction materials marketplace plans to file its draft red herring prospectus (DRHP) this month to raise Rs 2,500 crore via an initial public offering. The company has appointed merchant bankers and legal advisors and is targeting a listing in the third or fourth quarter of FY26, subject to regulatory…
