BigBasket to sell majority stake to Tata Group

India’s biggest e-food merchant BigBasket is in cutting edge exchanges with the Tata Group to strip a dominant part stake for the salt-to-programming administrations aggregate, as indicated by three individuals up to date. The proposed bargain, which is as yet advancing, could see the Bengaluru-based organization sell around half stake for about $1 billion, the sources said.

China’s web giant Alibaba, which holds around 26% stake in BigBasket, is relied upon to sell its whole shareholding in the organization alongside a gathering of early benefactors, said someone else who would not like to be distinguished. Different speculators in the e-basic food item organization incorporate Ascent Capital, CDC Group and the Abraaj Group.

“While the discussions have been continuous for quite a while, it is still work-in-progress the extent that the points of interest go. It might in the end not prompt an exchange by any stretch of the imagination,” said one of individuals refered to above.