Instacart filed for its much-anticipated initial public offering (IPO), which could val🅷ueꦕ the online grocery delivery firm at as much as $9.3 billion.

The San Francisco-based company told regulators it plans to offer 22 million shares, 14.1 million of its own and 7.9 million from selling stockholders. It’s targeting a price of $26 to $28 each, which at the high end would bring the amount raised to $616 million.

Instacart noted that PepsiCo (PEP) has agreed to buy $175 million Series A convertible prefer🌠red stock in a private placement. It added that Goldman Sachs would be one of the underwriters and receive 1.5% of the purchase price 🍸as its fee.

The company also said 𒅌that Norway’s sovereign wealth fund, Norges Bank Investment Management, as well as TCV, Sequoia Capital, D1 Capital Partners, and Valiant Capital, have expressed interest in being cornerstone investors and would purchase up to $400 million in the IPO.

Along with Softbank’s plans to take its chip unit, Arm, public, Instacart’s move has raised optimism about a revival of the market for IPOs, which dried up as higher borrowing costs because of Federal Reserve rate hikes made them less attractive. 

Instacart made the filing as “Maplebear,” the name under which it is incorporated. The stock is expected to begin trading on the Nasdaq sometime this month under the ticker symbol “CART.”