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Published
Feb 17, 2021
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Tata Group signs deal to acquire majority stake in BigBasket

Published
Feb 17, 2021

Tata Group has signed an agreement with fast-moving consumer goods business BigBasket to acquire a stake of between 60% and 63% valued at $1.2 billion (Rs 7,983 crore). 

Tata Group and BigBasket's deal could be one of the largest in India's e-commerce sector - Bigbasket- Facebook

 
The Tata Group and Big Basket deal will be facilitated by a sale of both primary and secondary shares, two sources told ET Bureau. Both businesses have agreed to the deal and are now waiting to receive the go ahead from the necessary regulatory authorities including the Competition Commission of India. The deal is set to be one of the largest in India’s e-commerce sector. 
 
The share sale will enable two of BigBasket’s largest investors, Chinese e-commerce business Alibaba and private equity firm Abraaj Group which hold 27.58% and 18.05% stakes respectively, to exit the business. The deal may also provide smaller investors with an opportunity for a partial exit. 

As part of the deal, Tata Group will fund a $200 million to $250 million cash infusion in BigBasket, according to the sources. The acquisition is part of a wider plan for Tata Group to take BigBasket public by 2022 and this is also part of the deal. 
 
Tata Group’s plan to acquire BigBasket is part of its move towards omni-channel retailing as India’s e-commerce industry continues to grow. The business is also looking to launch an app which will cover numerous sectors including fashion and electronics. 

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