Instacart on Monday said it is looking to raise up to $616 million of fresh capital alongside existing shareholders in its upcoming IPO.
Instacart on Monday submitted an updated filing for its upcoming initial public offering, saying it is looking to raise up to $616 million of fresh capital alongside existing shareholders.
Instacart, one of the largest U.S. online grocery delivery firms, will be among the biggest public flotations to take place this year. The company competes with traditional retailers as well as tech firms likeThe company's updated IPO filing comes as British chip design firm Arm prepares for a blockbuster debut that could value it at as much as $52 billion. Last week, Arm said the New York IPO could fetch it up to $4.87 billion in fresh capital.
The debuts will put the IPO market to the test after a year-long freeze on stock market listings as a result of higher interest rates and rising inflation.Investors are hoping for a good showing from the latest raft of public offerings — but performance will depend heavily on market conditions when the companies actually list.
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