‘Tata group may buy a stake in BigBasket’

The Bengaluru-heaquartered BigBasket has a pan-India presence. It is believed to be negotiating a fresh round of funding with new investors, of $400 million and the backing of the Tatas woud be timely.

The Tata group is in talks to tie up with Indian online groceries unicorn BigBasket, as the conglomerate attempts to catch up with rivals including Amazon and Mukesh Ambani’s rapidly expanding retail empire, the Financial Times reported on Wednesday.

Tata and BigBasket would make a decision on the deal by the end of October, FT reported, citing a person close to discussions. The newspaper wrote that another person with knowledge of the potential deal described it as a “strategic” relationship, with the conglomerate potentially acquiring a 20 per cent stake and two board seats.

The Bengaluru-heaquartered BigBasket has a pan-India presence. It is believed to be negotiating a fresh round of funding with new investors, of $400 million and the backing of the Tatas woud be timely.

A transaction with BigBasket could help the Tata group tap into a growing e-grocery market as it is preparing for a big online push. In August, Natarajan Chandrasekaran, chairman at Tata Sons, told Financial Times that the Tata group is planning to launch a super app that will host all its consumer offerings on a single platform. “It will be a super app, a lot of apps in apps and so on,” he had said.—FE

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