Tata Group likely to acquire minority stake in BigBasket

Tata Group is in talks to acquire minority stake in online supermarket BigBasket, which is looking to raise $200 million in growth capital.

Tata Group is in talks to acquire minority stake in online supermarket BigBasket, which is looking to raise $200 million in growth capital.

Singapore-based Temasek, Tybourne Capital and Generation Investment Management are also in talks with the food distribution start-up to invest capital. The valuation is estimated at $2 Billion.

Tata Digital is also in the process of making a super app. “It will be a super app, a lot of apps in apps and so on . . . We have a very big opportunity.” “The app would eventually encompass services from food and grocery ordering to fashion, lifestyle, electronics, insurance, financial services, education, healthcare and bill payment.” Tata Sons chairman Natarajan Chandrasekaran had reportedly told Financial Times.

Currently, BigBasket and Grofers are the biggest players in the market. Until last year, BigBasket had over 10 million registered customers and claimed to process 1 lakh orders per day. However, the company now boasts of 3x rise in the order book, taking the number to 3 lakh orders per day. Recently launched Reliance’s JioMart is also investing heavily in marketing to gain footfall.

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