Private Equity

PE Fund Investments

Building materials player Marudhar Rocks raises Rs.150-Cr from BVF

Building materials player Marudhar Rocks International Pvt Ltd has raised INR 150 crore from Bharat Value Fund (BVF), managed by Pantomath Capital Management Pvt Ltd, through a private placement round. BVF picked up 6.5% stake valuing the company at INR 2,300 crore.Founded in 2010, Marudhar Rocks is the largest manufacturer of Premium Engineered Quartz Surfaces (Premium EQS) in India, with a production capacity of about 2 million square metres per annum, spread across three strategically located facilities in Jaipur, Rajasthan; State Industries Promotion Corporation of Tamil Nadu (Hosur, Tamil Nadu); and Kelamangalam (Hosur).Marudhar generates 100% of its revenue from exports to the US, the UK, Canada, Australia, Italy, Middle East and Vietnam. Marudhar clocked a revenue of INR 518 crore in FY24.