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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