TataTo Buy 68% In Bigbasket For Rs 9,500 Cr

On 18 February 2021,The Tata Group is in the final stages of acquiring a majority stake of 68 per cent in supermarket grocery supplies, which runs and operates online grocery brand BigBasket, for about Rs9,500 crores. The deal is biggest in the online grocery space till now values BigBasket at Rs 13,500 crore (around USD1.85 billion). This comes about 20 months after the Hari Menon startup company in Bengaluru had entered the unicorn club.

BigBasket has created a significant presence in the online space that has got certified further in the past 12 months. For Tata’s to make a transition from a physical to a digital space, an inorganic route makes more sense. This transaction would allow the conglomerate access to a large customer base.

BigBasket is an Indian online grocery delivery service. The company primarily delivers grocery goods found in convenience stores, home essentials and food supplies to its customers. BigBasket was founded in December 2011 and has its headquarters in Bangalore, India. Bigbasket company was founded by Sudhakar, Hari Menon, Vipul Parekh, AbhinayChoudhari and Ramesh in 2011. In 2011 they launched Bigbasket online grocery delivery service. In March 2020, they acquired micro-delivery firm, DailyNinja.

With big names including Tatas, Amazon, Reliance, Walmart-owned Flipkart and Udaan making their presence felt in this space, e-grocery is emerging as one of the most coveted retail segments. As marquee players line up, BigBasket will need serious money to remain a leader in the game, according to experts.