BigBasket looks to raise $200 million at up to $3.5 billion valuation

Online grocer BigBasket has begun the process for a new round of funding that is likely to value the Tata Digital-owned firm at around $3-3.5 billion, said three people briefed on the matter. BigBasket’s latest financing is likely to come from Tata Digital and existing shareholders. While the size of the round hasn’t been finalised, it’s likely to be in the range of $200 million or more, the people said.

Bengaluru-based BigBasket’s holding company Supermarket Grocery, of which Tata owns 62%, filed documents with the Registrar of Companies (RoC) recently about plans to increase the authorised share capital of the firm, typically an indication of a fresh cash infusion on the cards.