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Tata Sons plans to use part of the funds to deleverage the company balance sheet and also infuse fresh equity in units that are loss-making and need constant liquidity.
TDPL operates the Tata Neu super app, which serves as a consolidated e-commerce platform under the brand name 'Tata Neu'.
Tata Group may be looking at a strategy employed by Asia's richest man Mukesh Ambani as the salt-to-software conglomerate looks to grow its digital business.
(Bloomberg) -- Tata Group is weighing putting in $1 billion of fresh capital into its super app venture as the salt-to-software conglomerate seeks to improve the digital business, according to people familiar with the matter.Most Read from BloombergRinggit Falls to 25-Year Low, the Worst Performer in Asia After Yen This YearTesla Tempers Growth Expectations as Musk Sees Storm AheadBiden Vows Aid for Gaza, Backs Israel Over Hospital BlastWhere Does Israel Get Its 220,000 Barrels of Oil Every Day?
Tata Super App: Tata Group is considering investing an additional $1 billion into its super app venture, on top of the $2 billion already invested this year. The conglomerate is aiming to improve its digital business and has asked its digital unit to address operational issues and enhance user-friendliness. Tata Group has also suggested exploring funding opportunities with global sovereign and financial investors, following the strategy of rival Reliance Retail Ventures.