IPO Digest: Milkbasket, PhonePe Plan To Go Public

Milkbasket, a daily grocery delivery platform headquartered in Gurugram, is looking to launch its initial public offering by the second half of next year, thereby advancing its listing plans. PhonePe, a Bangaluru-based digital payments platform, is said to be working on a plan to launch its IPO to go public by 2023.

Milkbasket plans to launch IPO in 2020

Milkbasket, a daily grocery delivery platform headquartered in Gurugram, is looking to launch its initial public offering by the second half of next year, thereby advancing its listing plans, according to a report by PTI.

Earlier, the startup had plans to make a stock market debut in 2023, the report added, quoting Milkbasket co-founder and CEO Anant Goel.

The online grocery segment has been witnessing significant traction amidst the COVID-19 pandemic that has prompted consumers to stay indoors and place orders online.

Interestingly, SoftBank-backed e-grocery startup Grofers too has reportedly indicated that it would adopt the listing route by the end of next year.

PhonePe plans to go public in 2023

PhonePe, a Bangaluru-based digital payments platform, is said to be working on a plan to launch its IPO by 2023, per a report by INC42.

The company may undertake its listing plans as a separate entity in the US or India, the report added.

PhonePe is reportedly looking at a valuation of $7-10 billion.

Meanwhile, its parent company Flipkart owned by US retail giant Walmart, too, is looking to go public by 2022 in the US.