Grofers pursues profit, targets IPO in 3yrs
5 May 2019 4:12 PM IST
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%.
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