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Valued at $7 billion, the company has raised a total of $1.8 billion or about Rs 16,000 crore, since its inception in July 2021 from marquee investors.
The resolution "to approve the conversion from private limited company to public limited company" was cleared by shareholders on November 21, according to a regulatory filing.
Sources aware of the development told PTI that the company plans to file draft papers with market regulator SEBI this month and go for public listing by June 2026.
When contacted, the company's spokesperson said "We're growing 20-25 per cent every quarter on order volume and burn is going down. we're able to show investors that in relative terms we're able to deliver reasonable capital efficiency for 100 per cent plus year on year growth."
As of September 2025, the company had more than 900 dark stores, burned Rs 1,000-Rs 1,100 crore in cash and garnered gross sales of USD 3 billion, or about Rs 26,000 crore.
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