BigBasket is reportedly being valued between $1.8bn and $2bn in a transaction that would give Tata Group a majority stake.
BigBasket, an India-based grocery delivery company backed by e-commerce group Alibaba, has agreed to an acquisition by conglomerate Tata Group, TechCrunch reported yesterday.
Tata is acquiring a stake of more than 60% and the deal values BigBasket between $1.8bn and $2bn, TechCrunch’s sources claimed. Following the acquisition, BigBasket would look to go public as early as 2021.
Existing backers including Alibaba, which holds nearly 30%, are expected to exit almost entirely through the acquisition by Tata.
Founded in 2011, BigBasket…
