Tata Digital acquired 64% stakes in Supermarket Grocery Supplies, BigBasket. After the approval of deal this week Tata Digital has infused a capital sum of $200 million in the e-grocer. BigBasket’s Co-Founder & CEO, Hari Menon was glad to be a part of Tata Group. This conglomeration would surely strengthen the consumer base of BigBasket. Tata Digital said that in the span of ten years Bigbasket has expanded over 25 cities. They own over 50,000 stock keeping units and acts a supply chain unit forming a network of 12,000 farmers to deliver fresh fruits & vegetables. Tata Group is also on terms with acquiring the online pharmacy 1mg & acquiring majority stakes in Mukesh Bansal’s health & fitness startup, Curefit. The gross sales of BigBasket amount to $1.1 billion in 2020-21 & aims to increase to $1.7-1.8 billion.
Source: The Economic Times