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IS BIG BASKET GOING TO SELL ITS STAKE TO TATA GROUP ?

one that will tie in the entirety of its shopper organizations, a few media reports have stated, as it contends with Amazon and Reliance Industries , who have made huge wagers on India’s thriving internet business market.

BigBasket contends with Walmart Inc-possessed Flipkart and Amazon’s Fresh assistance as more customers stay inside and decide to shop web based during the COVID-19 episode.

China’s Alibaba, which holds around 26% stake in BigBasket, is required to sell its whole shareholding in the organization .

“While the discussions have been continuous for quite a while, it is still work-in-progress the extent that the particulars go. It might in the end not prompt an exchange by any means,” the paper refered to one of the sources.

Tata Group could pay $500 million-$700 million for a controlling stake in BigBasket. The paper had before said that BigBasket was hoping to raise $200 million for a crisp subsidizing round and was in converses with the Tata Group.

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