Instacart Seeks to Raise $660 Million With Boosted IPO Range (1)

Instacart, the largest grocery-delivery business in the US, raised the price range for its upcoming initial public offering following a strong trading debut for chip designer Arm Holdings Plc.

The company and existing shareholders are now seeking to raise as much as $660 million, according to a filing on Friday. They are marketing 22 million shares at $28 to $30 apiece, up from a previously indicated range of $26 to $28 each, Instacart said in the filing.

The decision comes a day after SoftBank Group Corp.-owned Arm soared on its debut in New York, having priced its ...