Tata’s Bigbasket eyes IPO by 2025 after $200 million fundraising

Tata’s Bigbasket eyes IPO by 2025 after $200 million fundraising


The Tata Group’s online grocer BigBasket is expected to list its shares within three years after the recent fund raising valued the country’s largest online grocer at $3.2 billion, reported Bloomberg on Wednesday.

In an interview, BigBasket’s Chief Financial Officer Vipul Parekh said that the Bengaluru headquartered e-commerce company will likely launch an initial public offering in the next 24 to 36 months but was open to raising more private capital before that. 

The $200 million Bigbasket, which is focusing on expanding its pan-India reach, announced this week that it had raised capital that will bolster its quick commerce arm and expand its nationwide footprint, as it looks to cement its dominance over the sector giants – Amazon and Reliance Industries.

While deploying the fresh funds, there will be an “even split” between capital expansion and marketing in newer territories, according to Parekh. Bigbasket will increase the number of dark stores supplying BB Now — it’s quick commerce format which promises deliveries of household staples within 30 minutes — from about 200 to 300 outlets by March. 

At presnet, Bigbasket operates in 55 cities and wants to expand to 75 cities in the same period, Parekh stated. The firm also has a presence in about 450 towns and that could increase by 80 to 100 over the next year, he added. 

Last year, Tata Digital had filed an application with the Competition Commission of India to acquire up to 64.3% of the total share capital in BigBasket’s business to business entity Supermarket Grocery Supplies Private Ltd.

Tata Digital is a wholly-owned subsidiary of Tata Sons, which is the ultimate holding company of the entities belonging to the Tata Sons group. It is involved in the business of providing technology services related to identity & access management, loyalty program, offers and payments.

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