BigBasket looks to raise $200 million at up to $3.5 billion valuation

“The company continues to grow 40% annually as projected earlier internally.

This financial year ending March 2023, the company is expected to generate sales of $1.5 billion (net of discounts),” said one of the people cited above.

ET had reported that it became the second vertical ecommerce player to have crossed gross sales of $1 billion in FY21.

BigBasket has begun the process for a new round of funding that is likely to value the Tata Digital-owned firm at around $3-3.5 billion

BigBasket's latest financing is likely to come from Tata Digital and existing shareholders.

While the size of the round hasn’t been finalised, it’s likely to be in the range of $200 million or more, the people said.

“After 1mg (which got $41 million in funding), BigBasket is also working on a new cash infusion.

It will happen at a pre-money valuation of around $3.2-3.3 billion,”

Management lock-in, IPO plans they can sell up to 10% of their holdings without clearance from Tata Digital but will need its approval beyond that.

To read more news & information like this then click below mentioned link.