Milkbasket plans to launch IPO next year

Daily grocery delivery platform Milkbasket has advanced its plan to launch an initial public offering by the second half of next year, buoyed by strong growth in business in recent months amid the pandemic, a top company executive said.

Milkbasket, which already offers delivery of over 9,000 products across FMCG, dairy, fruits and vegetables categories in five cities (Delhi, Noida, Gurugram, Ghaziabad and Bengaluru), currently has an average revenue run rate of about $100 mn.

Speaking to Milkbasket co-founder and CEO Anant Goel said the rapid adoption of at-home grocery delivery amongst consumers during the pandemic has provided an impetus to target an initial public offering (IPO) in just a year.

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