Instacart plans to price IPO shares Monday, trade Tuesday

Grocery delivery business Instacart is preparing to price its initial public offering on Monday after boosting its price range following a strong trading debut by Arm, according to people familiar with the matter.

The company had earlier weighed pricing its offering later next week but then settled on Monday, according to people familiar with the matter, who spoke on the condition of anonymity to discuss confidential information.

IPO plans are often fluid and decisions around timing are usually dependent on market conditions.

A representative for San Francisco-based Instacart, which is incorporated as Maplebear and filed under that name, declined to comment.

Instacart said in a filing Friday that it is now seeking to raise as much as $660 million by marketing shares at $28 to $30 each, up from a previously indicated range of $26 to $28 per share.

It could achieve a fully diluted equity valuation of as much as $9.9 billion if the offering prices at the top end of the revised range.

Instacart’s higher range comes a day after chip designer Arm surged 25% in its debut – a move that is expected to help pry open the IPO market for other companies looking to go public.

Marketing and data automation provider Klaviyo is planning to sell its shares next week, with German footwear maker Birkenstock also preparing to list.