was in talks to buy 20 per cent in the e-grocer from the primary stake sale. Sources said that the e-commerce
player is likely to buy a stake from secondary sale as well, which might further increase its stake in the company. Paytm Mall
declined to comment on the issue.
Sources said that the company gave a rough valuation of $800 million to Bigbasket.
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 Bigbasket
a cash boost it needs for further expansion,” a source close to the deal
making rapid strides in the grocery
vertical and making sales as well as gaining more repeat customers, everyone from Flipkart
to Paytm Mall
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 customers.
India has seen a 150 per cent growth in the past one year in its grocery
segment, on the back of repeat customers
and Prime members. Groceries and entertainment are the two key segments for Amazon, which it believes are helping it to make e-commerce
a habit among its customers
in India and score over competition.