News > Tata Group Set to Acquire Majority Stake in BigBasket by Month-End, Alibaba May Exit

Tata Group Set to Acquire Majority Stake in BigBasket by Month-End, Alibaba May Exit

News18 | 24/11/2020 07:34 PM | Click to read full article

The deal between Tata Group and one of India’s largest e-grocers, Bigbasket, is in the last lap, sources said. The Tata Group is set to acquire a majority stake in the e-grocer and the deal could be closed by the end of the month.

Industry watchers see the move as part of the Tata Group’s strategy to build a super app. Tata Group is likely to buy out Alibaba’s entire 29.1 per cent stake.