Grofers advances plan to launch IPO by 2021-end as profit zooms

The company closed the financial year with a revenue of around Rs 2,500 crore and the valuation of Grofers is estimated to be close to Rs 6,000 crore.

Softbank-backed Grofers has advanced its plan to launch an initial public offer by the end of next year after its profit zoomed during the lockdown period, a top official of the company said.

Grofers co-founder and CEO Albinder Dhindsa told PTI that the company started making operational profit in January and expects to become cash positive by the end of this year.

"Our path to profitability has accelerated during the lockdown, and after achieving operational profitability in January, we are on track to become EBITDA and cash positive by the end of this year. We are observing market sentiments and