India’s BigBasket is gearing up for an initial public offering within the next 18 to 24 months, CEO Hari Menon revealed, as the Tata Group-backed grocery platform looks to capitalize on the growing demand for rapid online deliveries—ranging from fresh produce to Apple iPhones.
The company aims to double its business annually by March 2026 and expand its footprint from 35 to around 70 Indian cities within the next year, Menon told Reuters at a retail summit in Mumbai. However, he refrained from disclosing specific investment plans.
BigBasket’s IPO plans come amid a surge in India’s quick commerce sector, where competitors like Swiggy’s Instamart and Zomato’s Blinkit are aggressively expanding to meet the booming demand for ultra-fast, 10-minute deliveries in urban markets. Both Zomato and newly public Swiggy are ramping up investments to enhance their offerings, build more warehouses, and gain market share, even as the broader economy faces headwinds.
“Assortment is the key strategy, in my view,” Menon said, highlighting BigBasket’s diversification into electronics, pharmaceuticals, and fashion. Quick commerce now accounts for approximately 80% of the company’s revenue.
Additionally, the grocery giant—majority-owned by Tata Sons—is preparing to introduce quick food deliveries, though Menon did not specify a timeline. This move will place BigBasket in direct competition with Zomato’s “Bistro,” Swiggy’s “Bolt,” and Zepto’s “Zepto Cafe,” all of which are expanding their presence in the 10-minute food delivery space.
With input from Reuters
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