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Paytm Mall likely to invest $200 mn in Bigbasket in October

Paytm Mall was in talks to buy 20% in e-grocer from primary stake sale

Karan Choudhury  |  New Delhi 

BigBasket, Grocery
An employee weighs tomatoes after packing them at a Big Basket warehouse on the outskirts of Mumbai

Bolstering its online play, is likely to announce its $200-million in e-major next month. 

was in talks to buy 20 per cent in the e-grocer from the primary stake sale. Sources said that the player is likely to buy a stake from secondary sale as well, which might further increase its stake in the company. declined to comment on the issue. 

Sources said that the company gave a rough valuation of $800 million to  

“The is complete, there are a few minor things that are left to be done, the announcement is likely going to happen next week. It would give a cash boost it needs for further expansion,” a source close to the said.

With making rapid strides in the vertical and making sales as well as gaining more repeat customers, everyone from to are trying to get their product portfolio right. Paytm Mall, however, has the benefit of having a 225-million user base of its sister concern Paytm wallet which it can use to gain

India has seen a 150 per cent growth in the past one year in its segment, on the back of repeat and Prime members. Groceries and entertainment are the two key segments for Amazon, which it believes are helping it to make a habit among its in India and score over competition.

First Published: Sat, September 09 2017. 00:54 IST