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TDL buys stake in govt’s rural e-tailer

December 02, 2020

TDL buys stake in govt’s rural e-tailer

Tata Digital, the youngest digital arm of the Tata Sons Group, has invested approximately Rs 10 crore for an undisclosed stake in Grameen e-Store, the authorities rural eCommerce venture, consistent with a top legitimate.

Grameen e-Store, launched in April this year, is available in a hundred and 20,000 locations across the country. It has already clocked Rs 120 crore in turnover so far. The e-keep is run via commonplace carrier centers (CSC) underneath the ministry of electronics and IT (MeitY).

The task is likewise in talks with HDFC Bank for a possible stake sale, consistent with assets.

ET had said final month that the authorities ambitious rural eCommerce undertaking have delivered on board huge brands which include white items retailer Tata Croma and leading financier HDFC Bank to scale up its operations. It already has partnerships with massive multi-nationals such as Pepsi, Coca-Cola, and home-grown oil and gasoline giant Bharat Petroleum.

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