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Tata buys majority stake in on-line grocer BigBasket – Occasions of India


BENGALURU: Tata Sons has acquired a majority stake in on-line grocery vendor BigBasket, placing the Indian conglomerate in a direct race with e-commerce gamers Amazon.com Inc, Walmart’s Flipkart and Reliance Industries.
The stake was purchased by Tata Digital Restricted, a unit of Tata Sons. Tata on Friday declined to present additional particulars on the deal, whereas BigBasket didn’t instantly reply to a Reuters request for remark.
India’s antitrust physique had in March accredited the acquisition of as much as a 64.3% stake in BigBasket by Tata Digital.
Media experiences have stated the deal is value about Rs 9,500 crore ($1.31 billion), and can contain shopping for out Chinese language big Alibaba’s stake.
The deal comes as e-commerce gross sales, particularly of meals and groceries, have accelerated in India because the Covid-19 pandemic spurred a giant shift to on-line procuring.
Tata, which has pursuits in merchandise spanning from salt to luxurious vehicles to software program, has been planning to launch a “super app” that can tie in all its shopper companies, based on media experiences.



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