Global Markets
Home›Global Markets›India›Country Delight plans $200 million to $300 million IPO…
Country Delight plans $200 million to $300 million IPO within 12 to 18 months
The Gurugram-based dairy and fresh-produce platform is also exploring a pre-IPO raise to set a valuation benchmark before filing its DRHP with SEBI.
Country Delight, a subscription-based dairy and fresh-produce delivery platform backed by Temasek, is preparing for an IPO in India that could raise between $200 million and $300 million, according to two people familiar with the plans cited by LiveMint Markets.
The company’s parent is expected to begin informal pitches to investment bankers over the next seven to 10 days to select lead managers, with the eventual structure likely to include both fresh equity and an offer for sale by existing institutional shareholders, subject to board approval and market conditions.
Country Delight is also evaluating a pre-IPO fundraise intended to establish a valuation benchmark before it files a draft red herring prospectus with the Securities and Exchange Board of India, SEBI.
LiveMint Markets also said the company reported ₹1,380 crore in revenue in FY24, up 46% year on year, helped by subscriber growth and non-dairy sales. The business, founded in 2015 by Indian Institute of Management Indore graduates Chakradhar Gade and Nitin Kaushal, operates across major metropolitan markets and expanded into quick commerce through a Gurugram pilot in late 2024 offering 10-15 minute deliveries.