Tata Sons has acquired a majority stake in online grocery seller BigBasket, putting the Indian conglomerate in a direct race with e-commerce players Amazon.com Inc, Walmart’s Flipkart and Reliance Industries.<\/p>\n
The stake was bought by Tata Digital Limited, a unit of Tata Sons. Tata on Friday declined to give further details on the deal, while BigBasket did not immediately respond to a Reuters request for comment.<\/p>\n
India’s antitrust body had in March approved the acquisition of up to a 64.3% stake in BigBasket by Tata Digital.<\/p>\n
Media reports have said the deal is worth about 95 billion rupees ($1.31 billion), and will involve buying out Chinese giant Alibaba’s stake.<\/p>\n
The deal comes as e-commerce sales, especially of food and groceries, have accelerated in India as the COVID-19 pandemic spurred a big shift to online shopping.<\/p>\n
Tata, which has interests in products spanning from salt to luxury cars to software, has been planning to launch a “super app” that will tie in all its consumer businesses, according to media reports.<\/p>\n","protected":false},"excerpt":{"rendered":"
Tata Sons has acquired a majority stake in online grocery seller BigBasket, putting the Indian conglomerate in a direct race with e-commerce players Amazon.com Inc, Walmart’s Flipkart and Reliance Industries. The stake was bought by Tata Digital Limited, a unit of Tata Sons. Tata on Friday declined to give further details on the deal, while BigBasket did not immediately respond to a Reuters request for comment. India’s antitrust body had in March approved the acquisition of up to a 64.3% stake in BigBasket by Tata Digital. Media reports have said the deal is worth about 95 billion rupees ($1.31 billion), […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-798521","post","type-post","status-publish","format-standard","hentry","category-it-2"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/798521","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=798521"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/798521\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=798521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=798521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=798521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}