Synopsis
Goyal says Zomato spent almost one-third the money compared to competition to get here and has been very efficient..
ETtech
Bengaluru | Mumbai:
Zomato, the
first Indian unicorn to list on the bourses last month, will continue to chase growth and build a long-term business, cofounder Deepinder Goyal told ET, undeterred by questions raised on the food-delivery and restaurant-discovery platform’s profitability and eye-popping valuation.
The 38-year-old chief executive said that “life hasn’t changed drastically” after the company raised more than $1 billion from the public markets last month, vaulting it to the top league of publicly traded firms in India.
Following a thorough review of strategic business alternatives, certain Katerra US and Cayman Island entities have voluntarily filed for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the .
Synopsis
Tata Digital is likely to buy out Alibaba, which holds 27.58% stake and Actis LLP, which acquired several portfolios of scandal-hit Abraaj Group.
ETtech
The Competition Commission of India (CCI) has greenlit Tata Sons’ proposal to acquire a majority stake in Alibaba-backed BigBasket, setting the stage for a battle of the giants in the country s fast-growing online grocery segment.
Tata Digital, a wholly-owned subsidiary of Tata Sons, had sought CCI’s approval to acquire a 64.3% stake in Supermarket Grocery Supplies, the business-to-business arm of BigBasket, through a mix of primary and secondary share purchases.
Subsequently, through a separate transaction, Supermarket Grocery Supplies may acquire sole control over Innovative Retail Concepts which operates BigBasket’s online retail business, giving Tata control over both wholesale and retail business units.
Tata gets CCI nod to acquire 64.3% stake in BigBasket s Supermarket Grocery Supplies
The wholly-owned subsidiary of Tata Sons had sought the CCI s approval for the acquisition through a mix of primary and secondary share purchase
BusinessToday.In | April 29, 2021 | Updated 13:40 IST
The Competition Commission of India (CCI) has approved Tata Digital s acquisition of 64.3 per cent of BigBasket s B2B arm Supermarket Grocery Supplies. The commission said Supermarket Grocery Supplies may acquire sole control of Innovative Retail Concepts that operates BigBasket s online retail unit. The wholly-owned subsidiary of Tata Sons had sought the CCI s approval for the acquisition through a mix of primary and secondary share purchase. This approval sets the stage for the impending battle of the giant s in the country s grocery segment that has players like Flipkart and Amazon Fresh.
Synopsis
SoftBank Vision Fund-backed Grofers is expected to raise between $400 million and $500 million through the Nasdaq listing in May at a valuation of more than $1 billion.
ETtech
(Illustration: Rahul Awasthi/ETtech)
Mumbai:Grofers is in talks to make its public market debut through a merger with New York-based Cantor Fitzgerald’s blank-check firm, sources told The Economic Times, in what could be the first instance of an Indian startup taking this lesser-known route to tap funds.
The online grocer is expected to raise between $400 million and $500 million through the listing in May on the tech-heavy Nasdaq at a valuation of more than $1 billion, the sources said.