Business Standard

Bigbasket re-evaluates fundraising plan as demand and profit rise

The start-up in Jan had appointed Morgan Stanley and Goldman Sachs to assist it in raising $150 mn by July

Bigbasket
Premium

The online grocery platform has already become positive at ‘contribution margin’ level

Bibhu Ranjan Mishra Bengaluru
Online grocery firm Bigbasket is having a relook at its earlier plan to go for a funding round in July because of the changed business environment. The company, which has started generating profits, is also seeing a huge spike in demand after the relaxation of the lockdown.

The Bengaluru-based firm in January had appointed Morgan Stanley and Goldman Sachs to assist it in raising $150 million in a funding round towards June-July. 

While these bankers had initiated talks with perspective investors, the grocer is in two minds whether it actually needs to go for such a large funding round now,

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 28 2020 | 10:59 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com