BigBasket Secures Debt Funding for Expansion

BigBasket’s consumer-facing division, Innovative Retail, has successfully obtained Rs 200 crore ($22.7 million) in debt financing from DBS Bank Ltd. This marks the first significant capital injection in almost three years, following the $200 million investment led by Tata Digital in December 2022. As per their filing with the Registrar of Companies (RoC), the board of Innovative Retail Pvt Ltd, which is BigBasket’s B2C branch, has issued 20,000 non-convertible debentures (NCDs) valued at Rs 1,00,000 each to amass the stated amount.

The issued debentures carry a tenure of 18 months with a coupon rate of 8.2% per annum, as stated in the filing. The document also indicated that the funds raised through this debt will be directed towards establishing and managing dark stores, in addition to other corporate objectives.

Founded in 2021, BigBasket operates an inventory-driven online grocery model, overseeing its own dark stores and delivery network while providing an extensive array of products, including private labels. As of August 2024, BigBasket has completely shifted its focus towards quick commerce, prioritising 10-minute delivery.

As reported by various startup data platforms, BigBasket has raised over a billion dollars in investments thus far from prominent investors including Mirae Asset, British International Investments, and Bessemer Venture Partners. Tata Digital acquired BigBasket in May 2021.

On the financial side, BigBasket’s (B2C) losses increased to Rs 1,850 crore during the fiscal year that ended in March 2025, while its revenue remained steady at Rs 7,673 crore for that period.