Tata Digital to raise Rs 5,000 cr via commercial papers to expand business

Tata Digital, the digital business of Tata Sons, will raise Rs 5,000 crore through a commercial paper as the company looks for funds to expand in e-commerce.

Tata Digital is creating a platform for the Tata Group’s consumer business, acquiring 64 per cent in online grocer Big Basket as expands its ecommerce business.

An email sent to Tata Digital’s CEO Pratik Pal on the company’s fund raise did not elicit any response.

India Ratings and Research has rated Tata Digital’s commercial paper route to raise Rs 5,000 crore as ‘A1+.

“Given the importance of TDL (Tata Digital) in Tata Group’s overall digital aspirations, Ind-Ra expects TDL to not only launch the platform in a timely fashion, but also onboard most of the Tata Group’s flagship consumer brands.