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Tata Digital buys 64% stake in BigBasket

Sumit Arora Last updated on May 29th, 2021 05:55 pm Leave a comment

Tata Digital has acquired a majority stake in online grocery BigBasket, a deal that pits the country’s largest conglomerate against entrenched e-commerce players. The digital unit of the salt-to-software group didn’t disclose the financial details of the deal.

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Regulatory filings showed that it has acquired around 64% stake in Supermarket Grocery Supplies that owns BigBasket. BigBasket board had approved the deal earlier this week and Tata Digital has infused primary capital of $200 million in the egrocer at a post-money valuation of $2 billion.

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Sumit Arora

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As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.