{"id":61317,"date":"2023-09-15T08:21:29","date_gmt":"2023-09-15T12:21:29","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/instacart-raises-ipo-price-target-after-successful-arm-debut\/"},"modified":"2023-09-15T08:21:32","modified_gmt":"2023-09-15T12:21:32","slug":"instacart-raises-ipo-price-target-after-successful-arm-debut","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=61317","title":{"rendered":"Instacart Raises IPO Price Target After Successful Arm Debut"},"content":{"rendered":"
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Grocery delivery company Instacart on Friday raised the price range for its initial public offering, following a stellar debut for shares of chip designer
\n Arm Holdings.<\/span>\n <\/p>\n

In a filing with the Securities and Exchange Commission, Instacart raised the offering price to between $28 and $30 a share, up from $26 to $28. Taking into account stock options and restricted stock units, Instacart\u2019s total valuation is now $9.3 billion to $9.9 billion, higher than the earlier target of $8.6 billion to $9.3 billion. <\/p>\n

\n

The bump higher came after markets saw traders flocking to buy shares in Arm (ticker: ARM) following its debut on Thursday. Arm stock opened at $56.10 a share, 10% higher than its IPO price, and closed at $63.59.<\/p>\n

Instacart may debut sometime next week under the stock symbol \u201cCART.\u201d<\/p>\n

As part of the deal,
\n PepsiCo
\n \u00a0(PEP) has agreed to purchase $175 million of Instacart\u2019s Series A redeemable convertible preferred stock.<\/p>\n

Maplebear, as the Instacart parent is formally known, was founded in 2012. It filed to go public on Aug. 25 after a long wait. The Instacart IPO, along with ARM\u2019s offering, has set the stage for what investors believe could be a wave of IPOs in the coming months. <\/p>\n

Write to Karishma Vanjani at\u00a0karishma.vanjani@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Grocery delivery company Instacart on Friday raised the price range for its initial public offering, following a stellar debut for shares of chip designer Arm Holdings. In a filing with the Securities and Exchange Commission, Instacart raised the offering price to between $28 and $30 a share, up from $26 to $28. Taking into account […]<\/p>\n","protected":false},"author":1,"featured_media":61318,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-61317","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nInstacart Raises IPO Price Target After Successful Arm Debut | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Grocery delivery company Instacart on Friday raised the price range for its initial public offering, following a stellar debut for shares of chip designer\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=61317\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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