Amazon-backed More Retail eyes IPO next year, plans to double store count

Amazon-backed More Retail, a key player in India’s food and staples market, plans to go public next year and double its store count in five as shoppers keep turning to supermarkets and online buying for daily groceries, a top executive told Reuters.

Mumbai-based More, known for its neighborhood supermarkets and fresh grocery offerings, operates one of the country’s largest retail chains, with 775 stores as of its latest count.