Back to Career News

Tata Group to tie up with BigBasket

October 15, 2020

Tata Group to tie up with BigBasket

The Tata Group is in talks with tie-up with online staple goods unicorn BigBasket, Financial Times has detailed. A choice would take on the arrangement before the finish of October, the report cited an individual near conversations.

The espresso to-vehicles combination could be looking at a 20 percent stake and two board seats in the expected arrangement, the FT report additionally expressed.

Supported by Alibaba, BigBasket picked up footing on the rear of the continuous Covid-19 pandemic as shoppers buy goods and regular basics on the internet.

The online basic food item retailer has been in conversations to rope in new speculators like Singapore government’s Temasek, US-based Generation Partners, Fidelity, and Tybourne Capital, for a $350-400 million financing round, which will probably support its valuation go up about 33% to around $2 billion.

A tie-up with Big Basket would assist Tata with reinforcing its advanced presence and find rivals like Amazon and Mukesh Ambani’s quickly developing retail domain.

Recommended for you ...

Axis Bank and Mastercard Launch Premium Credit Card for Small Business Owners
Axis Bank and Mastercard Launch Premium Credit Card for Small Business Owners

September 26, 2024

Banks Report Over 15% Growth in New Credit Card Additions: RBI Data
Banks Report Over 15% Growth in New Credit Card Additions: RBI Data

September 26, 2024

National Company Law Tribunal (NCLT) Approves Merger of IDFC and IDFC First Bank
National Company Law Tribunal (NCLT) Approves Merger of IDFC and IDFC First Bank

September 25, 2024

Chat on WhatsApp