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Tata acquires majority stake in BigBasket
June 01, 2021
Tata Sons has acquired majority stake in well-known online food grocer BigBasket through its subsidiary, Tata Digital Limited. The majority stake acquiring in BigBasket will help the conglomerate take on the likes of Amazon, Walmart’s Flipkart, Reliance’s JioMart and Softbank-backed Grofers.
A regulatory filing by Tata Digital proposes that it has gained somewhat more than 64% stake in Supermarket Grocery Supplies, which is BigBasket’s business-to-business entity. Neither Tata Sons nor BigBasket has given additional insights regarding the deal as of now.
“Grocery is perhaps the biggest segment of a person’s consumption basket in India, and BigBasket as India’s biggest e-grocery player, fits in impeccably with our vision of making a huge consumer digital environment. We are delighted to invite BigBasket as a part of Tata Digital,” said Pratik Pal, CEO of Tata Digital.
In the meantime, Hari Menon, co-founder and CEO of BigBasket, said the organization was “extremely excited” about the future as a part of Tata Group.
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