Jan 23 (Reuters) - Indian construction material supply

firm Infra.Market has raised $121 million in a funding round led

by existing backer Tiger Global, at a valuation of $2.8 billion,

according to regulatory filings reviewed by Reuters.

The round also saw participation from other investors,

including Evolvence, Foundamental GmbH, and Zerodha co-founder

Nikhil Kamath among others.

The funding comes ahead of the company's initial public

offering planned later this year.

The company, which provides cement, tiles, paints to

large-scale infrastructure projects in India, has also appointed

eight investment banks for its IPO.

These include Kotak Mahindra Capital, IIFL Capital, Goldman

Sachs, Jefferies, ICICI Securities, HSBC Securities, Motilal

Oswal Financial Services, and Nuvama Wealth Management,

according to news reports.

According to its filings, Infra.Market reported a revenue of

145.3 billion rupees ($1.68 billion) and profit of 3.78 billion

rupees in the financial year ending March 2024.

($1 = 86.4530 Indian rupees)

(Reporting by Ashwin Manikandan; Editing by Varun H K)