BigBasket IPO? Tata Group-backed grocery giant plans to go public in 2 years amid demand surge: Report

BigBasket IPO: India's leading quick-commerce and grocery delivery giant, BigBasket, plans to go public in 18 to 24 months. According to news agency Reuters, the CEO of BigBasket believes the company will go public in two years. The Tata Group-backed grocery giant seeks to tap the surging demand for quick online deliveries of everyday items from fruits to Apple iPhones.

CEO Hari Menon told Reuters on the sidelines of a retail summit in Mumbai that the company is on track to double its business year-on-year (YoY) by March 2026 and expand to about 70 cities from 35 currently over the next year. 

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BigBasket IPO on cards? Here's what CEO says

BigBasket's plans for its listing in India come as the domestic quick commerce industry sees high double-digit sales growth. BigBasket rivals such as Swiggy's Instamart and Zomato's Blinkit are racing to capitalize on the red-hot demand for 10-minute deliveries in urban metros.

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Zomato and recently listed Swiggy are also increasing their investments to ramp up offerings, open more warehouses, and win market share as the quick commerce industry defies a broader economic slowdown in the country.

"Assortment is the play, in my view," said CEO Menon, whose firm is also expanding its range of products to include electronics, pharmaceuticals and fashion categories. According to Reuters, he said that quick commerce makes up about 80 per cent of BigBasket's revenue.

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The grocery delivery firm, in which Tata Sons has a majority stake, is also set to roll out quick food deliveries, Menon said without laying out a timeline. This move will pit the company against other 10-minute food services such as Zomato's "Bistro," Swiggy's "Bolt," and Zepto's "Zepto Cafe."

Last year, BigBasket launched a software-as-a-service-based supply chain platform, BB Matrix, to help new and existing e-commerce firms manage their supply chains and operations. With the new vertical, BigBasket planned to offer three SaaS products—a warehouse management system, a transportation management system and an order management system.