Tata Digital acquires majority stake in BigBasket

Tata Digital on Friday announced the acquisition of a majority stake in BigBasket. Though the company did not disclose details of the transaction, filings with the Competition Commission of India earlier showed that Tata Digital has acquired about 64.3% of the total share capital of Supermarket Grocery Supplies, the business-to-business vertical of the e-grocer, through a combination of primary and secondary acquisitions.

The transaction valued at about $1.2 billion is estimated to give BigBasket a post-money valuation of close to $2 billion.