Tata buys majority stake in Alibaba-backed Indian online grocer BigBasket
Bigbasket. Photo: Aniruddha Chowdhury/Mint
Tata Sons has acquired a majority stake in online grocery seller BigBasket, putting the Indian conglomerate in a direct race with e-commerce players Amazon.com Inc, Walmart’s Flipkart, and Reliance Industries.
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Bigbasket is evaluating the extent of the breach and authenticity of the claim with cybersecurity experts.
Temasek could alone inject about $50-70 million in the proposed financing.
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