Licious Delays IPO Until 2027-28, Focuses on Long-Term Growth
Indian meat and seafood delivery service Licious has announced a significant delay in its initial public offering (IPO), pushing the timeline to 2027-28. Founders Abhay Hanjura and Vivek Gupta have expressed a commitment to long-term growth rather than an immediate market listing, as reported by The Economic Times.
A Long-Term Vision
During The Economic Times’ Soonicorns Summit 2025, Hanjura stated, “We are in the business for the long run. The IPO is not the end for us.” This reflects a strategic choice to prioritize sustainable growth over the pressure to go public.
Financial Insights and Future Plans
Gupta elaborated on the company’s performance, indicating that Licious is on track to achieve profitability within the next six to eight months and is currently experiencing a remarkable 40% year-on-year growth.
In the financial year 2024, Licious managed to narrow its losses by 44%, bringing the total to INR 2.94 billion (approximately $35.4 million). However, revenue saw an 8% decline, totaling INR 6.85 billion, which the company attributes to reduced distribution partnerships and a lesser focus on modern trade.
Shift in Sales Strategy
Notably, 85% of Licious’s sales now come through its own website, prompting the company to shift focus towards offline expansion. Plans are in place to open up to 500 new stores over the next few years. Meanwhile, the quick-commerce sector remains a smaller part of their sales strategy, primarily due to shelf-life constraints of their products.
Conclusion
Licious is clearly charting a deliberate path toward long-term viability and profitability, moving cautiously as it prepares for its future IPO in 2027-28. This approach could position the company for sustainable growth and resilience in the competitive food delivery market.
