Tata Group Could Pay $700 Mn For Controlling Stake In BigBasket
If the talks are successful, Tata group could pay around $500-700 million in cash to a clutch of financial investors, mainly private equity funds and China’s Alibaba group, BigBasket’s largest investor, people aware of the talks told Mint. The development comes almost a fortnight after Inc42 had reported that Tata Group was looking to acquire a 20% stake in the online groceries unicorn. The strategic deal could come through by the end of October and buy two board seats for the Tata Group as well. In recent times, Tata Groups’ digital venture Tata Digital’s plans to launch a super app that is expected to be launched by December this year with US-based retail giant Walmart as an investor. In India, BigBasket and Grofers are the biggest players that primarily focuses on the online grocery segment.