OfBusiness and Infra.Market were the only two unicorns having a profit of more than Rs 100 crore for FY22
Infra.Market reported a net profit of Rs 186 crore for FY22 against Rs 36 crore in FY21 (2020-21), the company said on October 13. During the year, revenue jumped five-fold to Rs 6,236 crore from Rs 1,242 crore a year earlier
A total of $421 million was raised by startups in the week of June 10 to 17, 2022.
The CBDT said unaccounted cash worth Rs 1 crore and jewellery worth Rs 22 lakh have been seized till now. It also said the group has booked bogus purchases, made huge unaccounted cash expenditures, and obtained accommodation entries, aggregating to the tune of over Rs 400 crore.
The department is also learned to have conducted similar searches on the offices and residences of another B2B unicorn, Zetwerk, within a day of its searches at Infra.Market
EY (formerly Ernst & Young) acted as the exclusive financial advisor to Shalimar Paints for the deal.
Infra.Market was founded by Souvik Sengupta and Aaditya Sharda in 2016,
The construction materials marketplace aims to cross a billion dollars in sales by the end of 2021.
Its other investors including Accel Partners, Nexus Venture Partners and Sistema Asia Fund invested as well.