Friday, 24 March, 2023

Tata Group to acquire 68% stake in BigBasket

<p>Tata group is acquiring 68 % stake in online grocery platform BigBasket for around ₹9,500 cr as it bids to expand in the fast-growing e-comm space in India. The deal provides an exit route for a host of investors of BigBasket, including Chinese billionaire Jack Ma-controlled Alibaba. The acquisition puts the enterprise value of BigBasket at over ₹13,500 cr. The move comes at a time when the group is developing a super app in the world&rsquo;s second-largest internet market.<br /> &nbsp;</p>