Tata Group In Talks To Buy BigBasket
Mumbai: Tata Group is in advanced talks to acquire 80% stake in popular Indian online grocer BigBasket.
According to a reliable source familiar with the development, the proposed deal is worth $1.3 billion, which will value the Alibaba Group-backed e-grocer at $1.6 billion, Bloomberg reports.
Alibaba currently owns 29% in BigBasket.
There was no confirmation from either party.
Tata Sons Chairman N Chandrasekaran had earlier revealed that the company is building a super-app.