BigBasket, which is eyeing a valuation of up to $2 bn, has asked Goldman Sachs and Morgan Stanley to help raise the funds Online grocer BigBasket is planning to raise around $150-200 million, two people aware of the development said, as the coronavirus outbreak and the nationwide lockdown are expected to boost online grocery sales.
Supply chains were disrupted in the early days of the lockdown but, subsequently, e-commerce has emerged as the most viable alternative for people to source essential supplies such as groceries, as restrictions on movement and the fear of contracting the disease prompted more people to try home deliveries.