BigBasket plans to list in two years

BigBasket is planning to go public in the next 18 to 24 months, its CEO Hari Menon said, as the Tata Groupbacked grocery giant seeks to tap surging demand for quick online deliveries of everything from fruits to Apple iPhones.

The company is on track to double its business year-on-year by March 2026 and expand to about 70 Indian cities from 35 currently over the next year, Menon said on the sidelines of a retail summit in Mumbai. He stopped short of detailing any investment plans. BigBasket’s plans for its listing in India come as the domestic quick commerce industry sees high double-digit sales growth, with rivals such as Swiggy's Instamart and Zomato's Blinkit racing to make the most of redhot demand for 10-minute deliveries in urban metros.

BigBasket, in which Tata Sons has a majority stake, is also set to roll out quick food deliveries, Menon said.

(This is a Reuters story)
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