Tata group is preparing to launch super app through this deal
Tata Group’s strategy since Cavid-19 is to focus on the e-commerce online market. Here BigBasket also believes that they will also get strength after increasing Tata’s stake, so that they will be able to compete strongly with rival companies. Experts believe that buying shares at such a big level in Tata’s BigBasket together also means to dominate the market at one time. Bigbasket is also helping them for this. According to sources close to this deal, Tata is preparing to bring a super app. It will have a large range of household items and grass items.
Also read Government selected these 4 state-run banks for next round of privatization: report
Alibaba may exit after Tata investment
This investment by the Tata group will give two big investors of Big Basket, Alibaba and Abraaj Group, an opportunity to exit the company. In the next few days, this deal of Tata Group’s BigBasket will be completed. This deal may be the biggest deal ever in the online business space. Under this deal with the Tata group, Big Basket may also launch an IPO in the financial year 2022-23. Under this, if any other investor wants to sell a stake in it, the right of first refusal will be with the Tata group.