Tata group to take $1.3 billion stake in BigBasket: Report
1 min read.Updated: 16 Feb 2021, 03:59 PM ISTAnuron Kumar Mitra, Reuters
Indian conglomerate Tata group will buy a 68% stake in Alibaba-backed online grocery startup BigBasket for about ₹9,500 crore ($1.31 billion), the report said
India's Tata group will buy a 68% stake in online grocery startup BigBasket for about ₹9500 crore ($1.31 billion), television channel ET Now said on Tuesday, citing sources.
The salt-to-software conglomerate has been planning to launch a "super app" that will tie in all its consumer businesses, according to media reports, as it competes against Amazon.com Inc and Reliance Industries Ltd in India's booming e-commerce market.