B2B marketplace ProcMart is preparing for a public-market debut by FY28 as it scales aggressively across India and Southeast Asia. The company, whose clients include Colgate, Mondelez, Harman and Vedanta, expects to close FY26 with a ₹1,000-crore topline, driven by Malaysia, Indonesia and newly launched operations in Dubai and Abu Dhabi.
Founder and CEO Anish Popli said the company has invested significantly in leadership and governance ahead of its planned IPO. “We have brought in a Chief Business Officer, Chief Growth Officer, Finance Head and a CFO. We’ve built a team that can help us prepare for an FY28 listing,” he said. Popli added that as a profitable company, much of its recent fund deployment has been towards strengthening the organisation rather than covering cash burn.
ProcMart raised $30 million in April 2024 in a Series B round led by Fundamentum Partnership, the venture capital firm co-founded by Nandan Nilekani and Sanjeev Aggarwal, along with Edelweiss Discovery Fund. The funding has helped accelerate the firm’s global presence. “Our expansion in the UAE is our gateway to Africa. Once we stabilise these operations, we will begin entering African markets next year,” Popli told businessline.
At the business level, Popli explained that MRO (maintenance, repair and operations) remains ProcMart’s core offering. “MRO is basically the base for the company. When we onboard a client, the first solution we provide is an MRO solution,” he said, noting that MRO contributes around 60 per cent of ProcMart’s revenue. The company has since added packaging and biofuel as deeper extensions of the MRO offering. “Packaging and biofuel come under MRO, we’ve just gone to a deeper level by doing manufacturing,” he said.
Sector-wise, FMCG remains the company’s largest business, while auto and pharma each contribute around 20 per cent, with power and other traditional sectors adding the remaining 10 per cent.