Bigbasket aims to go for IPO by 2023, cross Rs 7,000 cr in revenue in FY21

Bigbasket expects to close the current financial year (FY20) with a top line of Rs 5,000 crore. In FY22, it hopes to hit the billion-dollar mark with revenue of Rs 7,000 crore

Online grocery firm Bigbasket aims to go for an initial public offering (IPO) by 2023, by when it strives to have Ebitda-positive financials.

Ebitda, or earnings before interest, taxes, depreciation, and amortisation, shows the operating and is an important parameter as it depicts the health of a business and whether it is able to generate cash after meeting its operational expenses.

Bigbasket requires another round of funding “which should be the last one” to achieve the target, said Hari Menon, co-founder and CEO of the firm.

Menon said Bigbasket is likely to become “contribution margin-positive” by July. This means it will be able