Photo: OfficeChai
CCI Nods Acquisition Of e-Grocery Seller BigBasket By Tata Group
The Competition Commission of India on April 29 approved the acquisition of Alibaba Group backed online grocery seller BigBasket by Tata Sons Pvt Ltd. Reportedly, Tata Digital, a wholly owned subsidiary of Tata Sons will acquire 64.3% of a unit that handles business-to-business sales for BigBasket. Coming at a time when the e-grocery sector is at its peak due to pandemic, the conglomerate will compete with Amazon and Walmart.
Tags: big basket, Tata Sons, Ali Baba, e-grocery
Courtesy: News18
Photo: The Wall Street Journal
Jack Ma's Ant Group IPO Attracts Orders Worth $3 Trillion From Investors
Alibaba's Jack Ma-backed Chinese fin-tech firm Ant Group's Initial Public Offering (IPO) has attracted orders worth $3 trillion by individual and institutional investors in Hongkong and Shanghai markets. Interestingly, the bids are equivalent to the UK's GDP and higher than India's GDP. Reportedly, the IPO is expected to bag $34.5 billion, breaking the previous record of Saudi Aramco ($29.4 billion). Reportedly, the company will begin trading… read-more
Tags: IPO, Ali Baba, Ant Group, Investments, HONGKONG, China
Courtesy: Business World
