Country Delight, a dairy and fresh-produce delivery platform backed by Temasek, is preparing for an initial public offering (IPO) targeting $300 million, according to livemint.com. The company reported revenue of ₹1,380 crore in fiscal year 2024, marking a 46% year-on-year increase driven by subscriber growth and non-dairy product sales. The IPO plans are in early stages as the company scouts investment banks this week.
The company is also considering a pre-IPO fundraising round to set a valuation benchmark ahead of the public listing, livemint.com reported. Country Delight’s parent entity has initiated early-stage preparations and will soon engage with investment bankers to discuss the IPO process. The move aims to capitalize on the company’s rapid growth and expanding market presence in India’s fresh-produce and dairy delivery sector.
Country Delight’s planned IPO comes amid a growing trend of Indian startups entering public markets to raise capital for expansion. The company’s 46% revenue growth in FY24 compares favorably with other fresh-produce delivery firms and positions it as a notable player in the sector. Temasek’s backing adds credibility and financial strength, aligning with recent large-scale IPOs in India’s consumer goods and e-commerce segments.
The company’s next steps include finalizing investment bankers and potentially closing a pre-IPO funding round to establish valuation ahead of the public offering. The IPO target of $300 million reflects confidence in the firm’s growth trajectory and market opportunity, as reported by livemint.com on August 30.