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Tata’s tryst with e-grocery starts with a billion dollar acquisition of BigBasket – here’s why it could be a sweet deal for both
Tata’s tryst with e-grocery starts with a billion dollar acquisition of BigBasket – here’s why it could be a sweet deal for both
Sanchita DashMar 13, 2021, 10:01 IST
BI India/BCCL
Tata Digital, a subsidiary of the Tata Group, moved the Competition Commission of India for an approval of its stake in BigBasket.
Tata is set to acquire a 64.3% stake in the grocery unicorn.
Here’s a deep dive into the deal and why the 152-year old conglomerate is interested in the 10-year old startup.The Tata Group has reportedly acquired a 64.3% stake in Indian grocery unicorn BigBasket. The deal which would cost the 152-year old conglomerate as much as $1.3 billion has been many months in the making, with the Tatas inherent wish to become a majority player in the Indian e-commerce market.