BigBasket, the Tata Digital-owned grocery firm, will soon raise USD 200 million at a valuation of USD 3 – USD 3.5 million. The financing is likely to come from Tata Digital and other shareholders. However, the exact amount of money to be raised has not yet finalised.

BigBasket has filed its documents with the Registrar of Companies (RoC) to raise its authorised share capital. Notably, a 62 per cent stake in the company is held by Tata Digital. The infusion of capital takes place at a time when the company is aspiring to expand its core offerings to compete with rivals like Dunzo, Zepto, Swiggy Instamart and others.

In 2021, BigBasket became the second such company in the country to generate sales of about USD 1 billion in a year. By the end of FY23, the firm is expected to cross the USD 1.5 billion mark. Reportedly, the company continues to grow 40 per cent annually. For the financial year ending March 2023, BigBasket is expected to generate sales of USD 1.5 billion (net of discounts).

Founded in 2011, primarily delivers grocery goods, home essentials and food supplies to its customers. Headquartered in Bangalore, BigBasket has opened Fresho stores across metro cities to enhance its offline presence. The company is likely to launch its IPO within two years.