 "The acquisition of BigBasket fits the Tata Group’s plans for serious online play")
Tata Consumer Products rose 2.7 per cent in a weak market to Rs 645.5 on the BSE on Wednesday on report that the Tata Group is in the final stages of acquiring a majority stake of 68 per cent in Supermarket Grocery Supplies, which runs and operates online grocery brand BigBasket.
The deal, which is expected to close in the next four to five weeks, will give exit to investors Alibaba, Abraaj Group and IFC. The top management, including co-founder and CEO Hari Menon, will continue to stay on board, the report added.
"The deal worth Rs 9,300-9,500 crore — biggest in
