BigBasket, India’s largest online fresh foods retailer, may be getting ready to say ta-ta to its independent existence. It could soon be a part of the Tata group.
The acquisition of the Bengaluru-based unicorn (a startup valued at or over $1 billion), if and when it happens, will be among the biggest investments in the salt-to-software conglomerate’s 153-year history.
Talks have been on for months and have reached the final stages now. If the grapevine is to be believed, the Tatas could fork out in the neighbourhood of $1.2 billion for a 60% stake in the e-grocer.
On paper, it looks like a match made in heaven. BigBasket could be the missing piece in the Tata group’s grand digital plans, driven by Tata Sons chairman N. Chandrasekaran. It is a business that draws hundreds of thousands of customers every day, the kind of throughput an e-commerce foray needs to mitigate costs and (maybe) make profits.
BigBasket is also a market leader