BigBasket targets IPO in 12-24 months

BENGALURU: BigBasket, the Tata-backed online grocery platform, is gearing up for a public listing within the next 12 to 24 months, founder and CEO Hari Menon told TOI. By the time it hits the market, the company aims to achieve $3 billion in annual revenue and turn profitable, targeting an earnings before interest, taxes, depreciation and amortisation (Ebitda) margin of 4-5%.
Menon’s remarks indicate that BigBasket is focusing on scaling its business while improving unit economics ahead of its initial public offering (IPO). The company has been expanding its footprint across cities and enhancing its quick commerce vertical, BB Now, to drive growth. It has also been strengthening its supply chain and private label offerings to boost profitability.
The planned IPO would mark a key milestone for India’s online grocery sector, which has seen increased competition from Reliance’s JioMart, Walmart-owned Flipkart, and Zepto. BigBasket, which was acquired by Tata Digital in 2021, has since been leveraging synergies with the conglomerate’s retail ecosystem.
While Menon did not specify a valuation target for the IPO, the company’s financial trajectory will be closely watched by investors, given the broader market’s scrutiny of profitability in tech-led businesses. The push to reach $3 billion in revenue and a positive Ebitda margin signals a strategic shift toward sustainable growth, a focus that has become crucial for startups preparing to go public.