India: Tata group eyes majority stake in online grocer BigBasket

BigBasket founder Hari Menon. Photo: Mint

The Tata group is in active discussions to take a controlling stake in BigBasket by buying out several existing investors of the online grocer, three people directly aware of the talks said.

If the talks are successful, Tata group could pay around $500-700 million in cash to a clutch of financial investors, mainly private equity funds and China’s Alibaba group, BigBasket’s largest investor, the people said, requesting anonymity

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