BigBasket aims for IPO in 2 years, targets business doubling by 2026: Report

BigBasket CEO Hari Menon said they are targeting to list the company on the Indian stock exchanges in the next two years. During an event on CNBC-TV18, the CEO said that the grocery-delivery arm of Tata Sons is on a strong growth trajectory, aiming to double its business between March 2025 and 2026.

Further, he dismissed the report that Tata Sons is disappointed over the grocery-delivering arm's quick commerce performance. According to the CNBC-TV18 report, Menon clarified that there is no urgency to expand quickly in quick commerce until there is a strong product-market fit.

"I sat on the sidelines for almost a year to see if quick commerce would work, but I was almost in a statement of denial. There are still concerns over the model making money but quick commerce will evolve in the next five years and everyone will have a space," he said.

BigBasket is currently generating Rs 1,200 crore monthly in terms of runrate. The average order value, comprising slotted delivery and quick commerce stands at Rs 850 with BBNow accounting for 80 percent of the business.

BigBasket is rapidly expanding its business by entering four new categories: Medicines, luxury fashion, food, and electronics. Next week, it will be entering the 10-minute food delivery segment in partnership with Tata Starbucks. BigBasket will also be launching Qmin on the app, featuring food products from Taj.

Additionally, it will also be launching prescription and OTC medicine delivery in partnership with Tata 1mg from May 1.

Recently, Bigbasket partnered with Croma and started delivering electronics products in 10 minutes in three cities. It also piloted luxury and fashion deliveries in partnership with Tata Cliq in Bengaluru.