BigBasket, India’s leading online grocery platform, has raised Rs 200 crore in debt from Singapore-based DBS Bank, according to a recent filing with the Ministry of Corporate Affairs. The funds are earmarked for the expansion and upkeep of dark stores and for general corporate purposes, signaling the company’s intent to strengthen its quick-commerce infrastructure.
The company’s board has approved the issuance of 20,000 non-convertible debentures, each valued at Rs 1 lakh, with an 18-month tenure offering an annual interest rate of 8.2 percent. The move comes amid heightened competition in India’s rapid grocery delivery sector, dominated by Blinkit, Zepto, and Swiggy Instamart, which together control roughly 80 to 85 percent of the market.
BigBasket, which pivoted from traditional slotted deliveries to a 10-minute delivery model through its BB Now service, has been actively exploring fresh funding options to maintain its operational edge. In FY25, the company’s B2C revenue fell marginally by 3 percent to Rs 7,673 crore, while losses surged to Rs 1,851 crore from Rs 1,267 crore the previous year.
The Tata Group, which acquired a majority stake in BigBasket in 2021 by buying out Alibaba’s holding, continues to oversee the platform, holding more than 65 percent. Other investors include Mirae Asset Venture and the UK’s CDC Group, now British International Investment. Reports indicate that BigBasket’s founders are gradually transitioning from day-to-day operations to mentorship roles, aligning with Tata’s long-term strategy for the platform.
Industry analysts note that while BigBasket faces stiff competition from well-funded quick-commerce rivals, investments in dark stores and infrastructure could enhance delivery efficiency and customer reach. Last month, Zepto secured $450 million in a mix of primary and secondary funding, highlighting the ongoing capital inflows in India’s fast-evolving instant grocery delivery market.
