BigBasket in talks to sell majority stake to Tata Group

India’s largest e-grocer BigBasket is in advanced negotiations with the Tata Group to divest a majority stake in favour of the salt-to-software services conglomerate, according to three people in the know. The proposed deal, which is still evolving, could see the Bengaluru-based company sell around 50% stake for about $1 billion, the sources said.

China’s internet giant Alibaba, which holds around 26% stake in BigBasket, is expected to sell its entire shareholding in the company along with a group of early backers, said another person who did not want to be identified. Other investors in the e-grocery company include Ascent Capital, CDC Group and the Abraaj Group.