Debt

Debt financing

Tata-owned online grocery deliverer BigBasket raises Rs.200-Cr from DBS Bank

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Innovative Retail, the consumer-facing arm of BigBasket, has raised INR 200 crore (USD 22.7 million) in debt funding from DBS Bank Ltd. This represents the company's first major capital injection in nearly three years, following a USD 200 million round led by Tata Digital in December 2022. The firm allotted 20,000 non-convertible debentures (NCDs), each with a face value of INR 100,000, issued for a tenure of 18 months at a coupon rate of 8.2% per annum.Founded in 2011, BigBasket operates an inventory-led online grocery model, managing its own dark stores and delivery network while offering a range of products, including private labels. In August 2024, the company fully pivoted to quick commerce, making 10-minute delivery its primary focus.The proceeds from this debt raise will be used to establish and maintain dark stores.

Between Feb-12 and Dec-22, Bigbasket had attracted about USD 963.30 M from Ascent Capital, Helion Ventures, Lionrock Capital, Zodius Capital, Bessemer, Abraaj Group, IFC, Sands Capital, Alibaba, British International Investment, Mirae Asset Global Investments, TR Capital, Trifecta Capital, and others.For FY25, Bigbasket had reported about INR 9,866.7 Cr in Operating Income and about INR 2,006.82 Cr in Net Loss.