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Tatas To Acquire 68 Pc Stake In BigBasket For Rs 9,500 Cr: Sources
BigBasket had raised USD 150 million from Mirae, Alibaba and CDC Group, which placed the Bengaluru-based company in the unicorn club (companies with valuation of USD 1 billion and above).
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The Tata group is acquiring 68 per cent stake in online grocery platform BigBasket for around Rs 9,500 crore as it bids to expand in the fast growing e-commerce space in India, according to sources.
The salt-to-software conglomerate, which has been working to gain majority control in the Bengaluru-based startup for months, has finally signed the deal, according to people in the know of the development.
More so in aftermath of COVID-19.
In March 2019, BigBasket had raised USD 150 million from Mirae.
New Delhi: The Tata group is acquiring 68 per cent stake in online grocery platform BigBasket for around Rs 9,500 crore as it bids to expand in the fast growing e-commerce space in India, according to sources.
The salt-to-software conglomerate, which has been working to gain majority control in the Bengaluru-based startup for months, has finally signed the deal, according to people in the know of the development.
The deal provides an exit route for a host of investors of BigBasket, including Chinese billionaire Jack Ma-controlled Alibaba.
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