Tata’s Bigbasket eyes IPO by 2025 after $200 million fundraising
Tata Group’s Bigbasket may list its shares on the stock exchange within three years after its latest capital raise valued India’s largest online grocer at $3.2 billion. The Bengaluru-based e-commerce company, which aims to expand its reach across India, may decide to launch an initial public offering in 24 to 36 months, but was earlier open to raising more private capital, Chief Financial Officer Vipul Parekh said.
in an interview on Wednesday. Bigbasket’s $200 million deal, announced this week, will bolster its fast-growing business and expand its nationwide reach as it seeks to consolidate its dominance over sector giants including Amazon.com Inc. and Reliance Industries Ltd NSE -1.42%. As the new funds are deployed, there will be an “even split” between capital expansion and marketing in newer areas, Parekh said.
Bigbasket will increase the number of dark stores with BB Now – a quick store format that promises delivery of household essentials within 30 minutes – from around 200 to 300 stores by March. Bigbasket currently operates in 55 cities and wants to expand to 75 cities in the same period, Parekh said. The company also has a presence in about 450 cities and could increase by 80 to 100 next year, he added.
