Deals
Amazon-Backed Grocer More Retail Weighing India IPO at $5 Billion Value
- Grocery chain may seek to raise about $500 million in listing
- Company was acquired in 2019 from Aditya Birla Group
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More Retail Pvt., an Indian grocery chain backed by Amazon.com Inc., is considering an initial public offering that could value the company at as much as $5 billion, according to people with knowledge of the matter.
The company is weighing a first-time share sale in Mumbai as early as June, the people said, asking not to be identified as the information isn’t public. More Retail could raise as much as $500 million in a listing, which would consist largely of new shares, one of the people said.