Categories: Business

Tata Digital buys 64% stake in BigBasket

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

As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.