Hella Infra - Unlisted Minds

Hella Infra

₹N/A

0.00% 13 Nov 4:01 p.m.

Listing Status: Active

infra.market

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Key Metrics of Infra.Market

Market Cap
Total Equity Funding₹6,895.6 Cr
Latest Funding Round₹1.9 Cr, Angel 2025
Post Money Valuation₹3.7 Cr
Annual Revenue₹5,714.4 Cr
EBITDA₹252.7 Cr
EBITDA Margin4.4%
Net Profit₹157.7 Cr
Net Profit Margin2.8%

About the Company

Provider of tools for pre-construction project management and procurement. It provides resources that help users plan, organize, and manage materials...

Price on BSE Volume

Funding Rounds

Total Rounds: 26 Infra.market

S.No.	Date	Round Name	Amount	TTM Revenue	Investors & Facilitators
1.	Nov 14, 2025	Angel	$214.1K	$3.4B	Angel: Shilpa
2.	Sep 18, 2025	Series G	$54.9M	$3.5B	Inst: Tiger Global Management, NK Squared, Accel, Nexus Venture Partners, Evolvence Equity Partners, Evolvence Facil: Argus Partners
3.	Jun 30, 2025	Conventional Debt	$150M	$3.7B	Inst: Mars Growth Capital Facil: Northcote Ventures
4.	Jun 27, 2025	Series F	$10.9M	$3.7B	Inst: 4R Investments, MRN Konnect, Caprize Angel: Hardik, Falguniben, Shekhar, Viral, Himay, Mehul, Sumita, Rakesh, Bhavin, Narendra, Uday, Gunvant, Prit, Maulik, Vipin, Maan, Dharmesh, Kalyanji, Anand, Nilesh, Ravi, Patel, Seema, Sudhir, Vipin, Rohit, Shivkumar, Sunita, Praveen, Maya, Nirali, Kantilal, Ishita, Kenin, Jignesh, Shailendra, Sarla, Saurabh, Asha, Prajal, Mahima, Premlata, Pooja, Shubham, Vansh
5.	Mar 31, 2025	Series F	$4.5M	$3.9B	Inst: CPR Distributors Angel: Vijay, Sapna, Shekhar, Rajeshkumar, Viral, Mansukhlal, Fuljibhai, Koradiya, Mitaben, Ritu, Dharmistrya, Prince, Nitaben, Bhavin, Ramjibhai, Falguniben, Rita, Tejal, Uday, Ratilal, Manmohan, Kalyanji, Sumit, Chetan
6.	Jan 3, 2025	Series F	$222M	$3.6B	Inst: Eudora Ventures, Nuvama, Kangarokgoc, Premratan Exports Llp, Svvsq, VR Sikka Consulting, Oracular Advisory, Capri Global Capital, Duroshox, Trifecta Capital, Alteria Capital, Gk91 Global, Tiger Global Management, Everest Finance and Investment, NKSquared Global, Wear Steels, Chhattisgarh Investments, Verity, Investburg, Samedh Trinity Partners, Incipience Dealers, Koradiya Cermic, Marutigoldindustries, Milleniumpapers, Stride Ventures, CPR Distributors Angel: Anmol, Geoffrey, Neel, Loney, Rashesh, Nischay, Neetha, Amit, Anil, Atul, Amar, Vinod, Nilesh, Rajeshkumar, Kishor, Bharatbhai, Gopaldas, Gunvant, Rajnikant, Sunilbhai, Prabhulal, Anantbhai, Parsotambhai, Amulbhai, Vithaldas, Sapna, Vikramkumar, Nileshkumar, Ramesh, Kailash, Jayeshkumar, Kishorbhai, Shaileshbhai, Prakashbhai, Divyesh, Gaurav, Gautam, Ashish, Ketan, Meet, Karan, Jitendra, Ramakrishnan, Chetan, Rajeshkumar, Rakesh, Mansukhlal, Vallabhbhai, Jayeshkumar, Fuljibhai, Prince, Ravi, Koradiya, Dineshbhai, Lalitbhai, Nevilbhai, Langhanoda, Mehulbhai, Nitaben, Poojaben, Sandip, Sarita, Amrut, Divyaben, Dixitbhai, Bharat, Ravi, Maheshbhai, Hulani, Ishwarbhai, Rameshbhai, Naresh, Narbheram, Jayshreeben, Narmadaben, Naraniya, Amitkumar, Sanjay, Sweta, Hajiavan, Pankaj, Chandrikaben, Pravinaben, Mukeshbhai, Nitin, Kapilbhai, Maijadiya, Manjibhai, Ushaben, Fenil, Ghanshyambhai, Viral, Shilpaben, Vallabhbhai, Hirenkumar, Ridhi, Mitaben, Piyush, Vijay, Kishan, Ambaram, Bipinchandra, Anand, Alpesh, Alpeshbhai, Madhuben, Yelin, Kalpeshbhai, Padsumbiya, Manish, Dhara, Kaushikbhai, Sundarjibhai, Vandanaben, Dineshbhai, Nitin, Meeraben, Vipul, Kamleshbhai, Rupala, Kavadiya, Rushabh, Sanjaybhai, Divyangkumar, Manish, Pareshbhai, Vijay
7.	Dec 20, 2024	Series F	$71.2M	$3.4B	Inst: Tiger Global Management, Foundamental, Verity, Evolvence Equity Partners Angel: Dimpy, Sumeet, Sapna
8.	Sep 16, 2024	Conventional Debt	$8.9M	$2.8B	Inst: Innoven Capital
9.	Sep 5, 2024	Series E	$17.9M	$2.8B	Inst: Alteria Capital Angel: Dipak, Kailash, Vijay, Dhanjibhai, Kishor, Rajeshkumar, Jaydeep, Suresh, Nilesh, Neel, Anand, Gautam, Amit, Barad, Ramnik, Dinesh, Amrishbhai, Sayan, Jagrutiben, Nitesh, Vipulkumar
10.	Jul 12, 2024	Conventional Debt	$22.1M	$2.5B	Inst: Yubi, Samunnati, Vivriti Capital, Raymond, IKF Home Finance
11.	May 28, 2024	Series E	$50M	$2.1B	Inst: Mars Growth Capital Facil: Northcote Ventures
12.	Jan 24, 2024	Conventional Debt	$12M	$1.7B	Inst: SK Finance
13.	Jun 13, 2022	Series D	$50M	$787.3M	Inst: Accel, Tiger Global Management, Mars Growth Capital, Sistema, Evolvence Equity Partners Facil: Khaitan
14.	Feb 10, 2022	Conventional Debt	$30M	$787.3M	Inst: Navi, Vivriti Capital, IKF Finance, InCred Wealth, Yubi, Yukti Securities Angel: Vidit, Sanjeev
15.	Dec 27, 2021	Conventional Debt	$26.6M	$674.6M	Inst: Avendus, Yukti Securities, Goenka Realtors, Kritagyata, Connaught Plaza Restaurant, Pratithi Investments, Dalmia Group Holdings Angel: Pankaj, Pooja, Anupama, Gautam
16.	Nov 25, 2021	Series D	$4.1M	$618.3M	Inst: Innoven Capital, Alteria Capital, Trifecta Capital
17.	Aug 3, 2021	Series D	$125.4M	$449.3M	Inst: Tiger Global Management Facil: Avendus
18.	Jul 7, 2021	Venture Debt	$13.4M	$393.0M	Inst: Alteria Capital
19.	Feb 25, 2021	Series C	$106.7M	$39.5M	Inst: Tiger Global Management, Accel, Nexus Venture Partners, Foundamental, Sistema, Alteria Capital, Stride Ventures, Innoven Capital, Evolvence Equity Partners Angel: Vikram, Shashank Facil: Avendus
20.	Jan 13, 2021	Venture Debt	$6.8M	$39.5M	Inst: Innoven Capital
21.	Dec 1, 2020	Series B	$20M	$39.5M	Inst: Foundamental, Accel, Nexus Venture Partners, Tiger Global Management, Sistema, Evolvence Equity Partners Facil: Ambit
22.	Jun 20, 2020	Series A	$1.2M	$39.5M	Inst: Trifecta Capital, Innoven Capital
23.	Dec 2, 2019	Series A	$20M	$39.5M	Inst: Tiger Global Management, Nexus Venture Partners, Accel Angel: Dhruv
24.	Sep 2019	Venture Debt	$4.5M	$19.2M	Inst: Innoven Capital
25.	Jun 26, 2019	Seed	$3.6M	$19.2M	Inst: Accel Angel: Dhruv Facil: INDUSLAW, Rajaram Legal
26.	May 26, 2018	Seed	$264.6K	$5.2M	Inst: Silverline Homes Angel: Prateek, Rashi, Bijal, Ronak, Shweta

Financial Statements

Revenue - INR (Cr)

Net Profit/Loss - INR (Cr)

Select a year from the tabs

FY 23-24

FY 22-23

FY 21-22

FY 20-21

FY 19-20

FY 18-19

FY 17-18

FY 16-17

Detailed Income Statement

FY 23-24 (in Cr)

14,743.5

14,530.2

14,198.4

326.1

Other operating revenues

5.7

Other income

213.2

14,272.4

Cost of materials consumed

2,628.3

Purchases of stock-in-trade

9,132.0

Changes in inventories of finished goods, work-in-progress and stock-in-trade

(77.3)

Employee benefit expense

399.4

Finance costs

575.0

216.8

1,398.2

Consumption of stores and spare parts

121.7

Power and fuel

131.4

Rent

15.3

Repairs to building

Repairs to machinery

47.4

Insurance

9.3

8.8

Printing stationery

3.6

Information technology expenses

28.2

Travelling conveyance

32.4

Legal professional charges

81.9

Directors sitting fees

Advertising promotional expenses

26.5

Commission paid other selling agents

44.0

414.6

Loss on disposal of intangible asset

Loss on disposal discard demolishment and destruction of depreciable tangible asset

2.7

Miscellaneous expenses

420.6

CSR expenditure

6.5

Telephone postage

3.2

Total profit before exceptional items, extraordinary items and tax

471.1

Exceptional items before tax

(22.9)

Total profit before tax

448.2

70.2

Total profit (loss) for period from continuing operations

378.0

Total profit (loss) for period

378.0

Basic earning per equity share

0.0

Diluted earnings per equity share

0.0

Detailed Balance Sheet

FY 23-24 (in Cr)

10,741.7

3,398.3

7,343.4

1,883.0

5,460.4

10,741.7

3,653.5

3,235.1

225.4

Deferred tax assets (net)

58.2

Other non-current assets

134.9

7,088.1

Detailed Cash Flow Statement	FY 23-24 (in Cr)
Net cash from / (used in) operating activities	467.2
Net cash from / (used in) investing activities	(916.4)
Net cash from / (used) in financing activities	506.7
Net increase / (decrease) in cash and cash equivalents before effect of exchange rate changes	57.6
Effect of exchange rate changes on cash and cash equivalents	(0.0)
Net increase / (decrease) in cash and cash equivalents	57.5
Cash and cash equivalents at the beginning of the year	217.6
Cash and cash equivalents at the end of the year	275.1

Detailed Income Statement

FY 22-23 (in Cr)

11,890.8

11,846.6

11,383.4

461.3

Other operating revenues

1.8

Other income

44.3

11,607.6

Cost of materials consumed

1,721.8

Purchases of stock-in-trade

8,292.6

Changes in inventories of finished goods, work-in-progress and stock-in-trade

(59.5)

Employee benefit expense

278.8

Finance costs

338.0

178.7

857.3

Consumption of stores and spare parts

83.5

Power and fuel

80.7

Rent

5.2

Repairs to building

Repairs to machinery

29.8

Insurance

7.4

3.8

Printing stationery

2.5

Information technology expenses

9.9

Travelling conveyance

26.9

Legal professional charges

49.2

Directors sitting fees

Advertising promotional expenses

2.7

Commission paid other selling agents

23.9

216.3

Loss on disposal of intangible asset

Loss on disposal discard demolishment and destruction of depreciable tangible asset

2.1

Miscellaneous expenses

307.6

CSR expenditure

3.5

Telephone postage

2.1

Total profit before exceptional items, extraordinary items and tax

283.2

Exceptional items before tax

(9.0)

Total profit before tax

274.2

118.9

Total profit (loss) for period from continuing operations

155.3

Total profit (loss) for period

155.3

Basic earning per equity share

0.0

Diluted earnings per equity share

0.0

Detailed Balance Sheet

FY 22-23 (in Cr)

7,285.5

2,522.0

4,763.5

660.7

4,102.8

7,285.5

1,927.5

1,448.5

144.5

Deferred tax assets (net)

27.0

Other non-current assets

25.7

5,358.0

Detailed Cash Flow Statement	FY 22-23 (in Cr)
Net cash from / (used in) operating activities	405.2
Net cash from / (used in) investing activities	(699.3)
Net cash from / (used) in financing activities	406.4
Net increase / (decrease) in cash and cash equivalents before effect of exchange rate changes	112.3
Effect of exchange rate changes on cash and cash equivalents	(0.0)
Net increase / (decrease) in cash and cash equivalents	112.3
Cash and cash equivalents at the beginning of the year	105.3
Cash and cash equivalents at the end of the year	217.6

Detailed Income Statement

FY 21-22 (in Cr)

6,285.1

6,236.3

6,002.1

232.6

Other operating revenues

1.6

Total revenue from operations finance company

Other income

48.8

6,058.1

Cost of materials consumed

442.1

Purchases of stock-in-trade

5,190.5

Changes in inventories of finished goods, work-in-progress and stock-in-trade

(154.6)

Employee benefit expense

140.4

Finance costs

136.8

33.6

269.1

Consumption of stores and spare parts

Power and fuel

19.5

Rent

7.8

Repairs to building

Repairs to machinery

Insurance

2.9

4.7

Printing stationery

1.6

Legal professional charges

20.3

Directors sitting fees

Impairment loss on financial assets

Impairment loss on non financial assets

59.7

Loss on disposal of intangible asset

Loss on disposal discard demolishment and destruction of depreciable tangible asset

1.2

Miscellaneous expenses

143.7

CSR expenditure

0.6

Cost repairs maintenance other assets

6.7

Telephone postage

0.4

Discount issue shares debentures written off

Total profit before exceptional items, extraordinary items and tax

227.0

Exceptional items before tax

(0.6)

Total profit before tax

226.4

40.5

Total profit (loss) for period from continuing operations

186.0

Tax expense of discontinuing operations

Total profit (loss) from discontinuing operation after tax

Total profit (loss) for period

186.0

Basic earning per equity share

0.0

Diluted earnings per equity share

0.0

Detailed Balance Sheet

FY 21-22 (in Cr)

5,056.4

2,213.5

2,842.9

932.7

1,910.3

5,056.4

1,343.3

835.9

466.2

Deferred tax assets (net)

17.3

Other non-current assets

23.9

3,713.1

Inventories

180.5

3,089.6

Current tax assets

Other current assets

443.0

Detailed Cash Flow Statement	FY 21-22 (in Cr)
Net cash from / (used in) operating activities	(1,642.8)
Net cash from / (used in) investing activities	(1,190.7)
Net cash from / (used) in financing activities	2,668.7
Net increase / (decrease) in cash and cash equivalents before effect of exchange rate changes	(164.8)
Effect of exchange rate changes on cash and cash equivalents	0
Net increase / (decrease) in cash and cash equivalents	(164.8)
Cash and cash equivalents at the beginning of the year	270.1
Cash and cash equivalents at the end of the year	105.3

Detailed Income Statement

FY 20-21 (in Cr)

1,244.9

1,240.2

Total revenue from operations finance company

Other income

4.8

1,206.9

Cost of materials consumed

Purchases of stock-in-trade

1,089.8

Changes in inventories of finished goods, work-in-progress and stock-in-trade

1.3

Employee benefit expense

37.4

Finance costs

21.3

4.4

52.7

Consumption of stores and spare parts

Power and fuel

1.0

Rent

2.1

Repairs to building

Repairs to machinery

Insurance

1.5

0.1

Printing stationery

0.5

Legal professional charges

4.7

Directors sitting fees

Impairment loss on financial assets

Impairment loss on non financial assets

7.4

Loss on disposal of intangible asset

Loss on disposal discard demolishment and destruction of depreciable tangible asset

0.5

Miscellaneous expenses

33.8

CSR expenditure

0.1

Cost repairs maintenance other assets

0.9

Telephone postage

0.2

Discount issue shares debentures written off

Total profit before exceptional items, extraordinary items and tax

38.0

Exceptional items before tax

Total profit before tax

38.0

7.0

Total profit (loss) for period from continuing operations

31.0

Tax expense of discontinuing operations

Total profit (loss) from discontinuing operation after tax

Total profit (loss) for period

31.0

Basic earning per equity share

0.0

Diluted earnings per equity share

0.0

Detailed Balance Sheet

FY 20-21 (in Cr)

1,050.5

720.4

330.1

65.2

264.9

1,050.5

74.7

20.8

43.0

Deferred tax assets (net)

10.9

Other non-current assets

975.8

Inventories

823.2

Current tax assets

0.3

Other current assets

152.3

Detailed Cash Flow Statement	FY 20-21 (in Cr)
Net cash from / (used in) operating activities	(391.6)
Net cash from / (used in) investing activities	(76.6)
Net cash from / (used) in financing activities	725.2
Net increase / (decrease) in cash and cash equivalents before effect of exchange rate changes	257.0
Net increase / (decrease) in cash and cash equivalents	257.0
Cash and cash equivalents at the beginning of the year	13.1
Cash and cash equivalents at the end of the year	270.1

Detailed Income Statement

FY 19-20 (in Cr)

352.1

350.8

349.6

1.2

Other operating revenues

Other income

1.3

341.1

Cost of materials consumed

Purchases of stock-in-trade

312.7

Changes in inventories of finished goods, work-in-progress and stock-in-trade

(1.3)

Employee benefit expense

17.4

Finance costs

2.2

0.4

9.7

Consumption of stores and spare parts

Power and fuel

1.4

Rent

0.9

Repairs to building

Repairs to machinery

Insurance

0.1

0.0

Printing stationery

0.2

Travelling conveyance

0.4

Legal professional charges

0.7

Directors sitting fees

Advertising promotional expenses

Provision bad doubtful debts created

0.4

Provision bad doubtful loans advances created

0.2

Loss on disposal of intangible asset

Loss on disposal discard demolishment and destruction of depreciable tangible asset

0.1

Miscellaneous expenses

4.8

CSR expenditure

Cost repairs maintenance other assets

0.5

Telephone postage

Electricity expenses

0.1

Total profit before prior period items, exceptional items, extraordinary items and tax

11.0

Total profit before extraordinary items and tax

11.0

Total profit before tax

11.0

2.3

Total profit (loss) for period from continuing operations

8.7

Total profit (loss) for period before minority interest

8.7

Profit (loss) of minority interest

Total profit (loss) for period

8.7

Basic earning per equity share

0.0

Diluted earnings per equity share

0.0

Nominal value of per equity share

0.0

Detailed Balance Sheet

FY 19-20 (in Cr)

217.6

187.4

30.2

0.2

30.1

217.6

14.9

4.6

3.0

Deferred tax assets (net)

0.3

Other non-current assets

7.0

202.7

Detailed Cash Flow Statement	FY 19-20 (in Cr)
Cash flow from operating activities	(140.1)
Net cash from / (used in) operating activities	(140.1)
Cash flow from investing activities	(27.7)
Net cash from / (used in) investing activities	(27.7)
Cash flow from financing activities	179.1
Net cash from / (used) in financing activities	179.1
Net increase / (decrease) in cash and cash equivalents before effect of exchange rate changes	11.4
Net increase / (decrease) in cash and cash equivalents	11.4
Cash and cash equivalents at the beginning of the year	1.7
Cash and cash equivalents at the end of the year	13.1

Detailed Income Statement

FY 18-19 (in Cr)

63.2

60.8

Cost of materials consumed

Purchases of stock-in-trade

56.7

Changes in inventories of finished goods, work-in-progress and stock-in-trade

Employee benefit expense

1.8

Finance costs

0.3

0.0

1.9

Consumption of stores and spare parts	0
Power and fuel	0.2
Rent	0.1
Repairs to machinery	0
Insurance	0.0
Total rates and taxes excluding taxes on income	0
Electricity expenses	0.0
Telephone postage	0
Printing stationery	0.0
Information technology expenses	0
Travelling conveyance	0.1
Legal professional charges	0.1
Advertising promotional expenses	0
Commission paid other selling agents	0
Cost repairs maintenance other assets	0
Total cost transportation	0.3
Provision bad doubtful debts created	0
Provision bad doubtful loans advances created	0
Total payments to auditor	0.0
CSR expenditure	0
Miscellaneous expenses	1.1

Total profit before prior period items, exceptional items, extraordinary items and tax

2.5

Exceptional items before tax

Total profit before extraordinary items and tax

2.5

Extraordinary items before tax

Total profit before tax

2.5

0.7

Total profit (loss) for period from continuing operations

1.7

Detailed Balance Sheet

FY 18-19 (in Cr)

19.1

0.9

Property, plant and equipment

0.1

Capital work-in-progress

Goodwill

Intangible assets under development

Investments accounted for using equity method

0.8

Deferred tax assets (net)

0.0

Other intangible assets

0.0

Other non-current assets

18.2

Inventories

18.2

Current tax assets

Other current assets

19.1

9.7

9.4

0.1

9.3

Detailed Cash Flow Statement	FY 18-19 (in Cr)
Cash flow from operating activities	(9.8)
Net cash from/(used in) operating activities	(9.8)
Cash flow from investing activities	(0.1)
Net cash from/(used in) investing activities	(0.1)
Cash flow from financing activities	11.6
Net cash from/(used) in financing activities	11.6
Net increase/(decrease) in cash and cash equivalents before effect of exchange rate changes	1.6
Effect of exchange rate changes on cash and cash equivalents	0
Net increase /(decrease) in cash and cash equivalents	1.6
Cash and cash equivalents at the beginning of the year	0.0
Cash and cash equivalents at the end of the year	1.7

Detailed Income Statement

FY 17-18 (in Cr)

28.5

28.4

0.2

Other income

0.0

27.7

Cost of materials consumed

Purchases of stock-in-trade

26.7

Changes in inventories of finished goods, work-in-progress and stock-in-trade

Employee benefit expense

0.5

Finance costs

0.1

Total depreciation, depletion and amortisation expense

0.0

0.3

Total profit before prior period items, exceptional items, extraordinary items and tax

0.8

Exceptional items before tax

Total profit before extraordinary items and tax

0.8

Extraordinary items before tax

Total profit before tax

0.8

0.2

Total profit (loss) for period from continuing operations

0.6

Profit (loss) from discontinuing operations before tax

Tax expense of discontinuing operations

Total profit (loss) from discontinuing operation after tax

Total profit (loss) for period

0.6

Basic earning per equity share before extraordinary items

0.0

Diluted earnings per equity share before extraordinary items

0.0

Basic earning per equity share

0.0

Diluted earnings per equity share

0.0

Detailed Balance Sheet

FY 17-18 (in Cr)

6.9

0.9

6.0

0.0

6.0

6.9

0.8

0.0

0.7

Deferred tax assets (net)

Other non-current assets

0.1

6.0

Detailed Cash Flow Statement	FY 17-18 (in Cr)

Detailed Income Statement

FY 16-17 (in Cr)

12.5

Other income

12.1

Cost of materials consumed

Purchases of stock-in-trade

11.4

Changes in inventories of finished goods, work-in-progress and stock-in-trade

Employee benefit expense

0.1

Finance costs

0.0

Total depreciation, depletion and amortisation expense

0.0

0.7

Total profit before prior period items, exceptional items, extraordinary items and tax

0.4

Exceptional items before tax

Total profit before extraordinary items and tax

0.4

Extraordinary items before tax

Total profit before tax

0.4

0.1

Total profit (loss) for period from continuing operations

0.3

Profit (loss) from discontinuing operations before tax

Tax expense of discontinuing operations

Total profit (loss) from discontinuing operation after tax

Total profit (loss) for period

0.3

Basic earning per equity share before extraordinary items

0.0

Diluted earnings per equity share before extraordinary items

0.0

Basic earning per equity share

0.0

Diluted earnings per equity share

0.0

Detailed Balance Sheet

FY 16-17 (in Cr)

3.0

0.3

2.7

1.6

1.1

3.0

0.8

0.7

Deferred tax assets (net)

Other non-current assets

0.0

2.3

Detailed Cash Flow Statement	FY 16-17 (in Cr)

Shareholding Pattern

As of Jun 20, 2025 • Infra.market

Total Shares 1.11M

Top Shareholders

Shareholder	Category	Shares (Mn)	% Holding
Internet Fund V Pte Ltd	Fund	0.22M	19.70%
Accel India V Mauritius Limited	Fund	0.17M	14.88%
Souvik Sengupta	Founder	0.12M	10.59%
Aaditya Sharda	Founder	0.12M	10.57%
ESOP Pool Available	ESOP Pool	0.10M	8.99%

#	Shareholder	Category	Shares (Mn)	% Holding
1	Internet Fund V Pte Ltd	Fund	0.22M	19.70%
2	Accel India V Mauritius Limited	Fund	0.17M	14.88%
3	Souvik Sengupta	Founder	0.12M	10.59%
4	Aaditya Sharda	Founder	0.12M	10.57%
5	ESOP Pool Available	ESOP Pool	0.10M	8.99%
6	Nexus Ventures V Ltd	Fund	0.08M	7.46%
7	Bizarro Advisory	Parent Entity	0.06M	5.20%
8	Evolvence India Fund III	Fund	0.04M	3.71%
9	Foundamental GmbH & Co KG	Fund	0.02M	1.82%
10	Sistema Asia Fund Pte Ltd	Fund	0.02M	1.77%
11	Evolvence India Coinvest PCC	Fund	0.02M	1.40%
12	Bizarro Productions	Parent Entity	0.01M	0.90%
13	Silverline Homes	Enterprise	0.01M	0.72%
14	EIF IV Coinvest PCC	Fund	0.01M	0.71%
15	Koradiya Cermic	Enterprise	0.01M	0.69%
16	Trifecta Venture Debt Fund II	Fund	0.01M	0.58%
17	Innoven Capital India	Fund	0.01M	0.55%
18	Ashish Kacholia	Angel	0.01M	0.50%
19	Everest Finance and Investment	Enterprise	0.01M	0.50%
20	NKSquared Global	Enterprise	0.01M	0.50%
21	Rajeshkumar Koradiya	Angel	0.00M	0.44%
22	Rakesh Koradiya	Angel	0.00M	0.38%
23	Gk91 Global	Enterprise	0.00M	0.32%
24	Mansukhlal Koradiya	Angel	0.00M	0.27%
25	Vallabhbhai Koradiya	Angel	0.00M	0.23%
26	Verity	Enterprise	0.00M	0.23%
27	Shekhar Adroja	Angel	0.00M	0.22%
28	Jayeshkumar Koradiya	Angel	0.00M	0.22%
29	Fuljibhai Koradiya	Angel	0.00M	0.21%
30	Prince Koradiya	Angel	0.00M	0.19%
31	Dimpy Kanwar	Angel	0.00M	0.19%
32	Ravi Koradiya	Angel	0.00M	0.18%
33	Capri Global Capital	Enterprise	0.00M	0.18%
34	Sistema Asia Fund India Ventures	Fund	0.00M	0.14%
35	Anmol Bhansali	Angel	0.00M	0.13%
36	Koradiya Rakeshbhai	Angel	0.00M	0.12%
37	Shashank Dangayach	Other People	0.00M	0.11%
38	Vikram Reddy	Angel	0.00M	0.11%
39	Alteria Capital India Fund I	Fund	0.00M	0.11%
40	Nuvama	Enterprise	0.00M	0.11%
41	Oracular Advisory	Enterprise	0.00M	0.11%
42	Amit Barad	Angel	0.00M	0.10%
43	Ketan Kakrecha	Angel	0.00M	0.10%
44	Meet Mehta	Angel	0.00M	0.10%
45	Wear Steels	Enterprise	0.00M	0.10%
46	Marutigoldindustries	Enterprise	0.00M	0.10%
47	Viral Ghodasara	Angel	0.00M	0.09%
48	Chhattisgarh Investment Limited	Fund	0.00M	0.09%
49	Barad Amarsinh	Angel	0.00M	0.08%
50	Sumeet Kanwar	Angel	0.00M	0.08%
51	Stride Ventures Debt Fund II	Fund	0.00M	0.08%
52	Dineshbhai Patel	Angel	0.00M	0.08%
53	Lalitbhai Kavadiya	Angel	0.00M	0.07%
54	Nevilbhai Kavadiya	Angel	0.00M	0.07%
55	Karan Sanghvi	Angel	0.00M	0.07%
56	Jitendra Khandol	Angel	0.00M	0.07%
57	Duroshox	Enterprise	0.00M	0.06%
58	Dhruv Agarwal	Angel	0.00M	0.06%
59	Nitaben Koradiya	Angel	0.00M	0.06%
60	Stride Ventures India Debt Fund I	Fund	0.00M	0.06%
61	Langhanoda Ghanshyambhai	Angel	0.00M	0.06%
62	Mehulbhai Kavadiya	Angel	0.00M	0.06%
63	Dipak Detroja	Angel	0.00M	0.05%
64	Poojaben Dalsaniya	Angel	0.00M	0.05%
65	Other Investors	Other Investors	0.00M	0.05%
66	Innoven Capital India Fund	Fund	0.00M	0.05%
67	Sandip Naraniya	Angel	0.00M	0.05%
68	Neel Pujara	Angel	0.00M	0.05%
69	Ramakrishnan Ramamurthi	Angel	0.00M	0.05%
70	Sarita Agrawal	Angel	0.00M	0.05%
71	Milleniumpapers	Enterprise	0.00M	0.04%
72	Trifecta Venture Debt Fund III	Fund	0.00M	0.04%
73	Kangarokgoc	Enterprise	0.00M	0.04%
74	Premratan Exports Llp	Enterprise	0.00M	0.04%
75	Eudora Ventures Llp	Fund	0.00M	0.04%
76	Geoffrey Nagpal	Angel	0.00M	0.04%
77	Amrut Kavadiya	Angel	0.00M	0.04%
78	Divyaben Kavadiya	Angel	0.00M	0.04%
79	Kailash Desai	Angel	0.00M	0.04%
80	Dixitbhai Kavadiya	Angel	0.00M	0.04%
81	Ramjibhai Adroja	Angel	0.00M	0.04%
82	Rita Adroja	Angel	0.00M	0.04%
83	Svvsq	Enterprise	0.00M	0.04%
84	Vijay Detroja	Angel	0.00M	0.03%
85	Ramnik Ghodasara	Angel	0.00M	0.03%
86	Dinesh Ghodasara	Angel	0.00M	0.03%
87	Bharat Naraniya	Angel	0.00M	0.03%
88	Ravi Bhimani	Angel	0.00M	0.03%
89	Alteria Capital Fund II	Fund	0.00M	0.03%
90	Maheshbhai Naraniya	Angel	0.00M	0.03%
91	Tejal Adroja	Angel	0.00M	0.03%
92	Hulani Narendrabhai	Angel	0.00M	0.03%
93	Ishwarbhai Naraniya	Angel	0.00M	0.03%
94	Rameshbhai Gami	Angel	0.00M	0.03%
95	Naresh Bhai	Angel	0.00M	0.03%
96	Nilesh Detroja	Angel	0.00M	0.03%
97	Narbheram Naraniya	Angel	0.00M	0.03%
98	Kishor Detroja	Angel	0.00M	0.02%
99	Jayshreeben Gami	Angel	0.00M	0.02%
100	Rajeshkumar Detroja	Angel	0.00M	0.02%
101	Narmadaben Kavadiya	Angel	0.00M	0.02%
102	Uday Vadagama	Angel	0.00M	0.02%
103	VR Sikka Consulting	Enterprise	0.00M	0.02%
104	Sapna Vig	Angel	0.00M	0.02%
105	Loney Antony	Angel	0.00M	0.02%
106	Rashesh Bhansali	Angel	0.00M	0.02%
107	Nischay Negi	Angel	0.00M	0.02%
108	Neetha Joy	Angel	0.00M	0.02%
109	Amit Desai	Angel	0.00M	0.02%
110	Vinod Detroja	Angel	0.00M	0.02%
111	Ratilal Adroja	Angel	0.00M	0.02%
112	Dhanjibhai Detroja	Angel	0.00M	0.02%
113	Naraniya Amarshibhai	Angel	0.00M	0.02%
114	Amitkumar Bhimani	Angel	0.00M	0.02%
115	Vipulkumar Ghodasara	Angel	0.00M	0.02%
116	Nitesh Bhuva	Angel	0.00M	0.02%
117	Anil Kalola	Angel	0.00M	0.02%
118	Sanjay Bhuva	Angel	0.00M	0.02%
119	Sweta Manvar	Angel	0.00M	0.02%
120	Hajiavan Bhadja	Angel	0.00M	0.02%
121	Pankaj Kumar	Angel	0.00M	0.02%
122	Hardik Likhiya	Angel	0.00M	0.02%
123	Amar Shah	Angel	0.00M	0.02%
124	Chandrikaben Kavadiya	Angel	0.00M	0.02%
125	Pravinaben Gami	Angel	0.00M	0.02%
126	Mitaben Koradiya	Angel	0.00M	0.01%
127	Mukeshbhai Bhadja	Angel	0.00M	0.01%
128	Investburg	Enterprise	0.00M	0.01%
129	Nitin Naraniya	Angel	0.00M	0.01%
130	Kapilbhai Bhadja	Angel	0.00M	0.01%
131	Atul Shah	Angel	0.00M	0.01%
132	Maijadiya Sunderjibhai	Angel	0.00M	0.01%
133	Manjibhai Naraniya	Angel	0.00M	0.01%
134	Ushaben Kanani	Angel	0.00M	0.01%
135	Alteria Capital Fund III	Fund	0.00M	0.01%
136	Fenil Bapodariya	Angel	0.00M	0.01%
137	Ghanshyambhai Motaka	Angel	0.00M	0.01%
138	Viral Matholiya	Angel	0.00M	0.01%
139	Shilpaben Bhadja	Angel	0.00M	0.01%
140	Vallabhbhai Gudaliya	Angel	0.00M	0.01%
141	Hirenkumar Aghara	Angel	0.00M	0.01%
142	Bharatbhai Rangpariya	Angel	0.00M	0.01%
143	Ridhi Fultariya	Angel	0.00M	0.01%
144	Piyush Aghara	Angel	0.00M	0.01%
145	Chetan Patel	Angel	0.00M	0.01%
146	Jaydeep Sanariya	Angel	0.00M	0.01%
147	Kishan Panchotiya	Angel	0.00M	0.01%
148	Dilip Ratilal	Angel	0.00M	0.01%
149	Gopaldas Saparia	Angel	0.00M	0.01%
150	CPR Distributors	Enterprise	0.00M	0.01%
151	Ambaram Kavadiya	Angel	0.00M	0.01%
152	Suresh Charola	Angel	0.00M	0.01%
153	Gunvant Detroja	Angel	0.00M	0.01%
154	Jagrutiben Ghodasara	Angel	0.00M	0.01%
155	Rajnikant Detroja	Angel	0.00M	0.01%
156	Sunilbhai Delvadiya	Angel	0.00M	0.01%
157	Prabhulal Detroja	Angel	0.00M	0.01%
158	Anantbhai Detroja	Angel	0.00M	0.01%
159	Bipinchandra Patel	Angel	0.00M	0.01%
160	Parsotambhai Saparia	Angel	0.00M	0.01%
161	Anand Koradiya	Angel	0.00M	0.01%
162	Alpesh Patel	Angel	0.00M	0.01%
163	Alpeshbhai Kalola	Angel	0.00M	0.01%
164	Madhuben Gami	Angel	0.00M	0.01%
165	Yelin Gami	Angel	0.00M	0.01%
166	Amulbhai Marvaniya	Angel	0.00M	0.01%
167	Samedh Trinity Partners	Fund	0.00M	0.01%
168	Kalpeshbhai Rankja	Angel	0.00M	0.01%
169	Ritu Koradiya	Angel	0.00M	0.01%
170	Dharmistrya Koradiya	Angel	0.00M	0.01%
171	Padsumbiya Jayantilal	Angel	0.00M	0.01%
172	Sayan Patel	Angel	0.00M	0.01%
173	Vithaldas Saparia	Angel	0.00M	0.00%
174	Sapna Shah	Angel	0.00M	0.00%
175	Manish Dadhaniya	Angel	0.00M	0.00%
176	Dhara Gandhi	Angel	0.00M	0.00%
177	Nikhita Sharda	Other People	0.00M	0.00%
178	Aarti Gajendra Sharda	Other People	0.00M	0.00%
179	Gajendra Sharda	Other People	0.00M	0.00%
180	Sunita Sharda	Other People	0.00M	0.00%
181	Gautam Bhanvadia	Angel	0.00M	0.00%
182	Kalyanji Kasundra	Angel	0.00M	0.00%
183	Manmohan Kansagara	Angel	0.00M	0.00%
184	Sumit Vara	Angel	0.00M	0.00%
185	Chetan Trambadiya	Angel	0.00M	0.00%
186	Kaushikbhai Chavda	Angel	0.00M	0.00%
187	Ramesh Hasalia	Angel	0.00M	0.00%
188	Vikramkumar Ashar	Angel	0.00M	0.00%
189	Nileshkumar Charola	Angel	0.00M	0.00%
190	Jayeshkumar Kasundra	Angel	0.00M	0.00%
191	Kishorbhai Patel	Angel	0.00M	0.00%
192	Shaileshbhai Rupala	Angel	0.00M	0.00%
193	Prakashbhai Detroja	Angel	0.00M	0.00%
194	Divyesh Saparia	Angel	0.00M	0.00%
195	Sundarjibhai Maijadiya	Angel	0.00M	0.00%
196	Vandanaben Maijadiya	Angel	0.00M	0.00%
197	Dineshbhai Maijadiya	Angel	0.00M	0.00%
198	Nitin Maijadiya	Angel	0.00M	0.00%
199	Amrishbhai Sardharia	Angel	0.00M	0.00%
200	Meeraben Bhimani	Angel	0.00M	0.00%
201	Vipul Dadhaniya	Angel	0.00M	0.00%
202	Kamleshbhai Hulani	Angel	0.00M	0.00%
203	Rupala Vashrambhai	Angel	0.00M	0.00%
204	Bhavin Bhila	Angel	0.00M	0.00%
205	Incipience Dealers	Enterprise	0.00M	0.00%
206	Kavadiya Shankerbhai	Angel	0.00M	0.00%
207	Vijay Desai	Angel	0.00M	0.00%
208	Falguniben Padaliya	Angel	0.00M	0.00%
209	Anand Zalariya	Angel	0.00M	0.00%
210	Rushabh Shah	Angel	0.00M	0.00%
211	Gaurav Bhanvadiya	Angel	0.00M	0.00%
212	Sanjaybhai Sabava	Angel	0.00M	0.00%
213	Divyangkumar Patel	Angel	0.00M	0.00%
214	Manish Fatepara	Angel	0.00M	0.00%
215	Pareshbhai Fatepara	Angel	0.00M	0.00%
216	Prateek Jain	Angel	0.00M	0.00%
217	Ronak Morbia	Angel	0.00M	0.00%
218	Shweta Morbia	Angel	0.00M	0.00%
219	Rohan Morbia	Angel	0.00M	0.00%
220	Bijal Morbia	Angel	0.00M	0.00%
221	Rashi Morbia	Angel	0.00M	0.00%
	Total		1.11M	100%