Newsletter
BigBasket has kicked off its IPO process, aiming to hit the markets within the next 18 to 24 months. Backed by Tata, the company has managed to make a rapid pivot to quick commerce.
The financials back it up: BigBasket is targeting $3 billion in annual revenue while pushing for profitability with an EBITDA margin of 4-5%. Quick commerce already fuels 80% of its revenue.
But groceries aren’t the only thing on the menu. BigBasket is doubling down on its SaaS solutions business, which helps optimize supply chains and warehouse management—a play that could turn into a high-margin revenue stream.
Big Picture: the company has big expansion plans, aiming to double its presence to 70 cities by 2026.
And category expansion is in full force. Beyond groceries, the company is expanding into electronics, pharma, and fashion, moving towards becoming a one-stop digital retail giant.
While we’re on IPOs…
Onix Renewable, a solar manufacturer and power producer, is eyeing a ₹1,000 crore IPO at a massive ₹10,000 crore valuation. The company operates nearly operates nearly 3,725 MW of power production capacity, in addition to a thriving solar manufacturing and contracting business.
Onix plans to use the IPO funds for PPAs and grid integration. India is targeting 500 GW of non-fossil fuel capacity by 2030. Onix wants a bigger slice of the green energy boom.
