Instacart IPO: Delivery giant appears ready to set its price range

Instacart should be ready to determine a price range for its initial public offering and start its investor roadshow as early as Monday, Sept. 11, according to reporting from Bloomberg.

A listing price for Instacart may then be set on Sept. 19, with trading starting the next day. The schedule, however, could change depending on market conditions.

Instacart had no comment.

Instacart noted in its prospectus that the company’s net income was $114 million and revenue in the last quarter was $716 million — a 15% increase year-over-year — reports CNBC.

Instacart has been profitable for the last five quarters, and PepsiCo has already agreed to purchase $175 million in the grocery deliverer’s stock in a private placement.

Tech IPOs have been hard to come by over the last couple of years, according to CNBC. Software vendor HashiCorp and cloud technology developer Samsra were the last two to do it back in December 2021. Instacart’s top competitor, DoorDash, filed in 2020, but Instacart is one of the first independent grocery delivery companies to go public.