bigbasket is expected to end FY24 with revenues of approximately $1.5 b; the IPO will consist of fresh and a secondary issuance. BigBasket is anticipated to conclude the fiscal year 2024 with revenues reaching around $1.5 billion. The upcoming IPO is planned to include a combination of fresh issuances and secondary offerings, marking a significant financial move for the company. The Bengaluru-based company, a part of Tata Digital, will turn profitable in another 6-8 months, once the newly launched ‘BB Now’ vertical starts making money, its co-founder and chief executive Hari Menon told reporters here.
Tata Group-owned online grocery giant, Big Basket, is strategically positioning itself for an initial public offering (IPO) in 2025 following its targeted achievement of profitability. The announcement, made by a top official on Tuesday, signifies the company’s confidence in its financial performance and growth trajectory, marking a pivotal moment in Big Basket’s journey within the competitive online grocery sector. The move aligns with the broader industry trend of leading players seeking public listings to fuel further expansion and capitalize on investor interest.
The business requires capital for ongoing investments which be raised from the Tata Group in the run-up to the IPO, he said, adding that a bulk of the investments are in technology, marketing and people.
