Tata Sons Acquires Majority Stake In Alibaba-backed on-line grocery vendor BigBasket

The stake purchase will place Tata Group in direct race with Amazon, Flipkart, JioMart and Grofers

Highlights

  • Tata Group in now in direct race with Amazon, Flipkart and Jiomart
  • BigBasket was based in 2011 in Bangalore and presence in 25 cities
  • Tata Group has already introduced plans to launch an excellent app

Tata Sons, by its wholly owned subsidiary Tata Digital, has acquired a majority stake within the Alibaba-backed on-line grocery vendor BigBasket (Supermarket Grocery Supplies Private Limited). E-grocery has been one of many quickest rising segments within the shopper e-commerce area and the deal comes at a time when the Covid-19 pandemic and resultant lockdowns have spurred a giant shift to on-line purchasing, particularly for meals and groceries.

The stake purchase in Bigbasket will place Tata Group in direct race with Amazon, Flipkart, JioMart and SoftBank-backed Grofers, which have been hitherto dominating the e-commerce area within the nation.

Pratik Pal, CEO of Tata Digital stated: “Grocery is without doubt one of the largest elements of a person’s consumption basket in India, and Bigbasket as India’s largest e-grocery participant, matches in completely with our imaginative and prescient of making a big shopper digital ecosystem. We are delighted to welcome Bigbasket as part of the Tata Digital.”

The Competition Commission of India had, in April, accredited Tata Digital’s provide of buying as much as 64.3 per cent stake in Supermarket Grocery Supplies Private (SGS) which runs the net grocery supply platform BigBasket.

BigBasket was based in 2011 in Bangalore and has a presence in 25 cities throughout the nation.

Meanwhile, the Tata Group has already introduced plans to launch an excellent app that can present a single-point entry to quite a lot of Tata shopper companies together with Qmin (a meals supply platform), Tata CLiq (life-style on-line purchasing web site) and Croma (an electronics retailer). The tremendous app shall be launched by Tata Digital in monetary yr 2022.

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