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The Tata-BigBasket deal will see a $200-250 million primary cash infusion in India s largest online grocery. Tata plans to take BigBasket public by 2022 as part of the deal terms.
Tatas acquire 68% stake in bigbasket for ₹9,500 crore
February 16, 2021
BigBasket needs to expand offline to scale up its business - THE HINDU×
Salt-to-software conglomerate Tata Group has signed a deal to acquire a 68 per cent stake in bigbasket, an online supermarket backed by Alibaba Group Holding Ltd, for nearly ₹9,500 crore.
The stake is being acquired through Tata Digital, a subsidiary of Tata Sons, which was set up for the conglomerate’s foray into the tech sector. While the deal would help Tatas compete with retail giants such as Reliance Retail, Flipkart and Amazon, it would also mark the exit of Alibaba from bigbasket.
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