For better or worse: The Tata-BigBasket marriage of convenience

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For better or worse: the tata-bigbasket marriage of convenience

17 Feb 2021

1 min read

One is a 153-year-old steel-to-software conglomerate with a middling supermarket chain. The other is a nine-year-old unicorn that has been instrumental in convincing Indians to buy fruit, vegetables, and staples online. One puts profitability first, and the other is in a business where increasing market share takes precedence over being in the black. And yet, the Tata Group wants the BigBasket cake.

The Tata Group has finalised a $200-250 million primary cash infusion in BigBasket as part of its larger deal to acquire a majority stake in India’s biggest online grocery company, said people with knowledge of the matter. The group is also said to be closing in on a majority stake in online pharmacy 1mg.

Tata will shell out a total $1.2 billion, in a mix of a primary and secondary sale of shares, giving it a 60% stake in BigBasket, said the people cited above. The salt-to-software cong ..

The full article was originally published on The Ken

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For better or worse: The Tata-BigBasket marriage of convenience | PraxisGA