CFO Vipul Parekh: Bigbasket may launch IPO in 2025

22 Dec 2022 , 11:15 AM

After the most recent capital round valued India’s largest online grocer at $3.2 billion, Bigbasket, a Tata Group company, may float its shares in three years, as per the reports of Business Standard.

The prosperous e-commerce company, which earns around $1.4 billion in annual revenue and is expanding across India, may decide to issue an IPO in 24 to 36 months, Chief Financial Officer Vipul Parekh said in an interview on Wednesday at the company’s Bengaluru headquarters. 

Prior to going public, the company, which this week revealed it had raised $200 million, is open to receiving further private financing, he noted.

A number of eagerly awaited technology IPOs in India have failed and seen their market value rapidly decline due to investor worries about valuations, rising interest rates, and profitability.

Bigbasket should strengthen its business model before going public, as efforts to stop the unrelenting stock crash are being made by recently listed companies Paytm, a payments company, and Nykaa Resort, an online retailer of beauty products.

Bigbasket, third of the online grocery industry in India, was bought by Tata last year. The 154-year-old company is striving to compete with and overtake industry heavyweights like Amazon.com Inc. and Mukesh Ambani’s Reliance Industries Ltd., which are vying for Indian consumers with a variety of lightning-fast deliveries and discounted discounts.