Tata group to buy 64.3% stake in BigBasket, Confirmation in Competition Commission of India filing

Ratan Tata

Ratan Tata

Tata group wants to increase its presence in the digital market. For this, it is also planning to buy stakes in Snapdeal and India Mart.

New Delhi. The Tata Group is preparing to buy a 64.3 per cent stake in BigBasket, the country’s largest online grocery company, backed by Alibaba. This has been confirmed in a filing submitted by Tata Digital Ltd to the Competition Commission of India.

BigBasket’s rival companies are going to invest heavily in the e-grocery business. Flipkart has announced that it is going to expand in Tier 3 and Tier 4 cities.

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3 lakh orders are booked dailyThe Tata group is building a Super App under the newly created Tata Digital. This app is going to be launched soon. In such a situation, he can get good support from big household items and grocery products of BigBasket. There are about 3 lakh order books per day at BigBasket. BigBasket sells over 18 thousand products. Recently its gross merchandise value touched one billion dollars. Sales of fruits and vegetables were 16 to 18 percent before the lockdown, which has now increased to 20 to 22 percent. Tata group wants to increase its presence in the digital market. For this, it is also planning to buy stakes in Snapdeal and India Mart.

Also read- Shock to common man, retail inflation increased in February, record of 3 months broken

Alibaba Group holds a major stake in BigBasket
The largest 29 per cent stake in BigBasket is held by Chinese businessman Jack Ma’s company Alibaba Group. Other investors in BigBasket include Abraaj Group, which holds 16.3 per cent, Ascent Capital 8.6 per cent, Helion Venture Partners 7 per cent, Bessemer Venture Partners 6.2 per cent, Mirai Esset Asia 5 per cent, Intranational Finance Corporation 4.1 per cent. , Sands Capital has 4 per cent and CDC Group holds 3.5 per cent.



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