Tata Group Set To Pump In $200-250 Mn in BigBasket

The Tata Group will infuse about $200-250 million in the online grocery platform BigBasket. This is part of Tatas’ larger agreement to buy a majority stake in the start-up.

Tatas could shell out about $1.3 billion in primary and secondary share sales to India's largest e-grocery company. It may be eyeing around 60% stake in BigBasket.

Tatas’ majority stake in BigBasket would mean the full exit of the biggest backers of BigBasket, including Chinese e-comm giant Alibaba and equity firm Abraaj group. Alibaba and Abraaj group collectively hold about 46% stake in BigBasket.

Once the deal is signed, it could value BigBasket at about $1.6 billion, fuelling its big plans for an IPO (Initial Public Offering) by 2022-23. Currently, BigBasket holds the biggest share of 50% in the e-grocery segment. It sells more than 18,000 products and 1,000 brands on its platform.

Apart from this, Tata group is also in talks to acquire about 55% stake in 1mg, an online pharmacy company.