linkedin Tata Digital, a subsidiary of Tata Sons, has confirmed that is has acquired a majority stake in Supermarket Grocery Supplies (bigbasket). Bigbasket was founded in 2011 in Bengaluru. It has since expanded its presence to more than 25 cities across India. According to reports, Tata Digital has acquired 64.3 percent of Supermarket Grocery Supplies, for a total of US$ 1.2 billion. Pratik Pal, CEO, Tata Digital, said, “Grocery is one of the largest components of an individual’s consumption basket in India, and bigbasket as India’s largest e-grocery player, fits in perfectly with our vision of creating a large consumer digital ecosystem. We are delighted to welcome bigbasket as a part of Tata Digital.”
10-figure salaries
SUBSCRIBE
Thank you for subscribing to Daily Top 5
We ll soon meet in your inbox. / Daily Top 5
Good evening,
Zerodha founders Nithin and Nikhil Kamath, and the firm’s director Seema Patil, could soon see their annual salaries rise to Rs 100 crore each. Patil, incidentally, is Nithin Kamath’s wife, so if their pay rises are confirmed, the Kamath household’s net income will be around Rs 300 crore next year. Yowzer.
GIF Credit: Giphy Tata makes BigBasket deal official
⚡️
Zerodha to reward founders, director with Rs 100-crore salaries
L-R: Nikhil Kamath, Seema Patil and Nithin Kamath
An annual salary of Rs 100 crore is unheard of in India Inc, but that could soon be what Zerodha founders Nithin and Nikhil Kamath, as well as newly appointed whole time director Seema Patil each take home soon.
Banking tech firm Zeta became the 14th Indian unicorn so far this year after raising $260 million from SoftBank and others. Tata Sons has made its acquisition of BigBasket official.
Tata Sons has finally acquired 64.3 per cent stake in popular online grocer BigBasket. The deal will help the conglomerate strengthen its position in the rapidly growing online grocery market in India.
Tata Digital acquires majority stake in BigBasket- Business News businesstoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstoday.in Daily Mail and Mail on Sunday newspapers.