When a startup has the support of a big business group like Tata Group, then what can be difficult for it? This thing fits perfectly with Bengaluru’s startup company BigBasket. Now the movement of this online grocery company’s IPO (BigBasket IPO), which has become a part of the Tata group, has intensified. For this, Tata Group has also prepared a big plan. Although before this, IPOs of startup companies like Zomato and Paytm were launched, which have failed to show significant success in the stock market.
BigBasket’s entire focus at this time is on expanding its all-India reach. Apart from big cities, the company is also expanding its reach in small towns. Recently, BigBasket has raised new funding, after which the company’s valuation has increased to $ 3.2 billion (about Rs 265 billion).
Bigbasket IPO Will Come By 2025
According to a Bloomberg report, BigBasket’s Chief Financial Officer Vipul Parekh says that the company may plan to list on the stock market within the next 24 to 36 months. But before that, it will raise a large number of private capital.
Companies like Reliance Industries and Amazon Inc are already in the retail sector. Therefore, the company focuses on increasing its reach across the country and being strong in the Quick Delivery segment. Zomato ‘s BlinkIt is also expanding rapidly in this segment. BigBasket has recently raised an amount of $ 200 million for its expansion.
Bigbasket Network Will Spread In 75 Cities
Parekh said that the company is rapidly expanding its BB Now service. By March 2023, the number of dark stores supplying it could increase to 300. At the same time, the company is providing its service in 55 cities, which it wants to increase to 75. The company says it has access to about 450 towns, which will increase to 100 more next year.
However, a big question is about the success of BigBasket’s IPO. Earlier, IPOs of big startup companies like Zomato and Paytm came into the market in India. But they have failed to give the correct returns to the investors. Experts believe that the thing that goes in favour of BigBasket is that it is a Tata group company.
