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Temasek-backed Licious targets $2.7b India IPO
The Straits Times
|February 19, 2025
Licious, a Temasek-backed online seller of meat and seafood in India, is seeking to become profitable as it prepares to list in 2026, adding to a slew of consumer-facing firms eyeing the country's public markets.
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MUMBAI - Licious, a Temasek-backed online seller of meat and seafood in India, is seeking to become profitable as it prepares to list in 2026, adding to a slew of consumer-facing firms eyeing the country's public markets.
Delightful Gourmet, which operates Licious, is opening more bricks-and-mortar stores, speeding up deliveries to take on quick commerce rivals, and aims to post a profit at the Ebitda (earnings before interest, taxes, depreciation and amortisation) level by August, according to Mr Vivek Gupta, chief executive and co-founder of the firm.
"We want to be an IPO-ready company in 12 months," he said in an interview.
The Bengaluru-based firm is targeting a valuation of more than US$2 billion (S$2.7 billion) in the listing, according to people familiar with the matter. Licious was valued at US$1.5 billion in its last funding round in 2023, data from Tracxn Technologies shows.
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