Tata’s digital platform will center around an all-in-one e-commerce app that aims to bring disparate online businesses of its entrenched consumer units under one umbrella.
Tata Group, India’s conglomerate that sells almost everything from cars to apparel and steel, is seeking to buy Indian online retailers to beef up its presence in e-commerce, people familiar with the matter said.
The group has reached out to IndiaMart InterMesh Ltd., a business-to-business marketplace, for a potential stake purchase, the people said, asking not to be identified as the plans are confidential. IndiaMart’s shares have surged 142% in Mumbai this year, giving it a market value of about $2 billion. Supermarket Grocery Supplies Pvt., commonly known as BigBasket, is also among Tata’s potential investment targets, one of the people
First Published: Oct 15 2020 | 12:17 PM IST