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Tata Group is all set to invest $1.2 billion to storm into the e-commerce segment

Tata Group is all set to invest $1.2 billion to storm into the e-commerce segment

Tata Group, one of India's biggest conglomerates, is gearing up to invest $1.2 billion to make an entry into digital ecommerce. The Group is now focused on buying majority stakes in e-pharma platform 1mg and popular e-grocer Bigbasket. Various sources are reporting that the Tata Group has almost finalized investment of $950 million for purchasing stakes up to 70 percent in Big Basket. This will take the e-grocer's valuation to $1.4 billion. The Mumbai-based business corporation is also investing almost $250 million in 1MG. Investments in both companies are in the final stage, and it is expected to be completed in the coming weeks.

The Tatas are very keen on buying the stakes of Alibaba in Bigbasket, which is close to 30 percent. The investment that is planned for 1MG is also based on primary and secondary capital fusion, with 1MG's early investors also selling their stakes partially. In the second stage of the investment, the company would be directly buying the stakes from existing investors, and it will also make sure that the money goes to the latter instead of the company's pot. Alibaba's exit from Bigbasket would be considered as the first biggest ecommerce exit since the country's border tension with China.


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