Grofers pursues profit, targets IPO in 3yrs
The company is also gearing up to hit the capital market with initial public offer (IPO) within the next three years.The online player that was last valued at $600 million has moved out of hyper-local delivery model 3 years ago
- Online supermarket major Grofers India is pursuing profitability by consolidation and focussing on doubling its sales to ₹ 5,000 crore by FY'20.
- At present our monthly sales have touched ₹ 225 crore, growing at 8.5% month on month.
- Grofers, despite raising $60 million recently, remained focussed on consolidating its presence in 12 cities (where it is already present) across the country to push profitability instead of aggressive geographical expansion.
- Speaking about east, Dhindsa said Kolkata is one of the fastest growing market for the company with a growth rate of 18%.