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Tatas to buy 68% in BigBasket for Rs 9,500 cr, deal likely in 4-5 weeks

The deal is the biggest in online groceries space so far, values BigBasket at Rs 13,500 cr; will give exit to investors Alibaba, Abraaj and IFC

Topics
Tata group | BigBasket | Investment

Shivani Shinde & Samreen Ahmed  |  Mumbai/Bengaluru 

bigbasket, online delivery, grocery, logistics, warehouse, storage
The total size of the e-grocery market in the country is expected to grow from $1.9 billion in 2019 to $3 billion by the end of 2020

The is in the final stages of acquiring a majority stake of 68 per cent in Supermarket Grocery Supplies, which runs and operates brand BigBasket, for about Rs 9,300-9,500 crore, said a source close to the development. The deal — biggest in the space so far—values at Rs 13,500 crore (around $1.85 billion). This comes about 20 months after the Hari Menon-led Bengaluru company had entered the unicorn club ( with valuation of at least $1 billion).

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First Published: Tue, February 16 2021. 20:23 IST
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