A hyper-local e-commerce giant is gearing up for an IPO in 2025. Curious about who it is? Let’s dive in!
Magicpin boasts strong support from Zomato (16.95% stake) and Lightspeed Ventures (36%), fuelling its growth.
FY23 revenue hit ₹297.24 crore, an 83% jump from FY22. Losses also narrowed significantly year-on-year.
Magicpin connects users with local retailers in food, fashion, and more, leveraging its quick-commerce arm, magicNow.
Following IPOs by Swiggy and Ola Electric, Magicpin plans its debut in 2025, raising stakes in the Indian tech IPO race.
Zomato's stake in Magicpin could bring visibility to both firms, impacting Zomato’s share price as the IPO nears.
Magicpin’s IPO underscores its ambitious growth, promising to reshape India’s hyper-local e-commerce landscape.