Tata Group eyes stake in Big Basket for online groceries push: Report

In a bid to catch up with rivals retail giants Amazon and Reliance Retail, Tata Group is in talks with Bangalore-based online groceries unicorn Big Basket to help bolster its digital arsenal amid Covid-19-induced lockdown, according to a report by the Financial Times citing sources.

Tata would acquire a 20 per cent stake in Big Basket and clinch two seats on the board in the potential “strategic” deal, a source told the publication. A decision on the deal would be taken by the end of October, as per the report.

DH independently could not verify the report.

Big Basket, backed by Jack Ma’s Alibaba, with a valuation of $1.3 billion, plays an important role in India’s nascent online groceries market. The company became profitable during the Covid-19 pandemic and is expected to double revenue to $1 billion in FY21.