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SoftBank-backed Grofers plans to go public in US through SPAC deal


Grofers, an online grocer, is weighing a plan to go public in the US through a merger with a special purpose acquisition company (SPAC), people familiar with the matter said.
The SoftBank Vision Fund-backed company is working with an adviser, one of the people said, asking not to be named as the information is not public. The grocer is seeking a deal that would value the firm at about $1 billion, another person said.
Deliberations are at an early stage and the company could decide not to proceed with the plan, the people said. A representative for Grofers declined to comment. ....

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Grofers' net loss widens to ₹637 crore in FY 20 - The Hindu BusinessLine


Grofers’ net loss widens to ₹637 crore in FY 20
February 08, 2021
Its 42% high than previous financial year
Grofers’ net loss has widened to ₹637 crore in FY 20, which is 42 per cent higher from the previous financial year. The online grocery firm has reported revenues of ₹177 crore, a 111 per cent jump since the last financial year, according to regulatory filings accessed by
BusinessLine from Tofler.
Grofers’ total expenses rose from ₹518 crore for the previous fiscal to ₹814 crore for FY20. Grofers is an e-grocery platform that has a network of over 12,000 partner stores that enable the company to run a fast and lean supply chain - from manufacturers straight to consumers. “For the FY21 fiscal, the company is bracing for the hit because of the Covid-19 pandemic,” it said. ....

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Grofers & Reckitt Benckiser introduce the 'Deliver safe programme'


Aims to raise consumers trust with enhanced hygiene measures across operations.
05 Feb, 2021 - 08:56 AM IST     |     By indiantelevision.com Team    
NEW DELHI: In a bid to reassure consumers of the safety of buying groceries and getting them delivered home, online supermarket Grofers has joined forces with global consumer goods major RB (Reckitt Benckiser) to launch the ‘Deliver safe programme’. In a first for the Indian e-commerce industry, the collaboration with RB aims to strengthen consumer trust in the safety and hygiene measures implemented by Grofers.
The safety programme is built on 3P pillars – Products, Partnership, and Protocols – and emphasises the need to maintain proper hygiene and sanitisation from storing products in warehouses to delivery at customers’ doorstep. As part of this initiative, RB will equip the Grofers team with its iconic brands – Dettol, Lizol and Harpic – which have been tested by internationally accredited ....

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Seasonal vegetable prices drop in January


Seasonal vegetable prices drop in January
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Vegetable prices have dropped by 15% to 20% in the past one week. Over the weekend, the prices will further fall for all green vegetables. We are sourcing more than 60% of the fruits and vegetables directly from farmers, and ensuring that everyone gets a good price,” said Pradipta Sahoo, business head at Mother Dairy s Safal stores.
Agencies
Food processors that usually buy in bulk and sell frozen vegetables and fruit pulps to hotels and restaurants are buying less this year, causing farm-gate prices to decline.
Seasonal vegetable prices dropped in January and are expected to remain soft for the next one month due to good output and unhindered arrivals in most consuming centres across the country. ....

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