Big Basket and Tata

Photo: Next Big Brand

Tata Group Plans To Acquire 68% Stake In Virtual Grocer 'BigBasket'

Indian conglomerate Tata Group has inked an agreement with online grocery platform BigBasket acquiring 68% stakes for Rs 9,500 crore. Resultantly, BigBasket's enterprise value clocked beyond Rs.13,500 crores. The new development arrived amidst speculations suggesting Tata Group's possible venture into the e-commerce arena, currently reigned by Grofers, Amazon, and Flipkart. While the rival Reliance Retail is also advancing invasions in the sector, the Tata conglomerate is reportedly working on a 'super app.’

Wed, 17 Feb 2021 - 07:18 PM / by Ashly Ann Varghese

Tags
Tata groups
BigBasket
E-commerce
Amazon
Flipkart
Reliance Retail
Courtesy
The Hindu

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