Tata Digital acquires majority stake in BigBasket

by IANS |

Mumbai, May 28 (IANS) Tata Sons' subsidiary Tata Digital on Friday said it has acquired a majority stake in supermarket grocery supplies private limited, the company which is better known as BigBasket.

According to the company, E-grocery has been one of the fastest growing segments in the consumer e-commerce space and its growth is propelled with India's rising consumption and digital penetration.

"The current pandemic has further accelerated its adoption as consumers seek the convenience of ordering quality groceries delivered safely at home."

In the e-grocery space, BigBasket provides one of the largest assortments with the convenience of home deliveries on preferred dates and timeslots.

Besides, it operates a farm-to-fork supply chain with over 12,000 farmers and several collection centers across India.

"Grocery is one of the largest components of an individual's consumption basket in India, and BigBasket as India's largest e-grocery player, fits in perfectly with our vision of creating a large consumer digital ecosystem," Pratik Pal, CEO of Tata Digital was quoted as saying in a company statement.

At present, Tata Group is building a digital consumer ecosystem addressing consumer needs across categories in a unified manner.

"Accordingly, this acquisition presents an attractive opportunity for Tata Group in its overall vision of creating a digital ecosystem."

BigBasket was founded in 2011 in Bengaluru and has expanded its presence to more than 25 cities across India since then.


 

Latest News
Modi-Shehbaz Sharif meeting likely during SCO summit: Report Thu, Aug 11, 2022, 03:14 PM
Australia men's team donates prize money from Sri Lanka tour to support nation in economic crisis Thu, Aug 11, 2022, 03:02 PM
Howrah City Police arrested a housewife Thu, Aug 11, 2022, 02:56 PM
A Newborn, who was buried alive by her parents and rescued by a farmer Thu, Aug 11, 2022, 02:49 PM
Gujarati extortionist gets captured by Punjab Police. Thu, Aug 11, 2022, 02:46 PM
Frankfurt Airport sees 5mn passengers for 1st time since Covid Thu, Aug 11, 2022, 02:39 PM
Nadal confirms participation in Cincinnati Open Thu, Aug 11, 2022, 02:32 PM
Bencic defeats Serena Williams in emotional Toronto send-off Thu, Aug 11, 2022, 02:26 PM
Faf du Plessis roped in by Chennai Super Kings owners for CSA T20 League: Report Thu, Aug 11, 2022, 02:24 PM
2022 BRICS Games to be held online in September Thu, Aug 11, 2022, 02:18 PM
Skeletons peep out of Maha CM's 'mini-cabinet', 75% ministers face criminal cases Thu, Aug 11, 2022, 01:49 PM
Government Makes wearing of masks mandatory at public places Thu, Aug 11, 2022, 01:41 PM
Afif Hossain, Anamul Haque help Bangladesh win final ODI, deny Zimbabwe series sweep Thu, Aug 11, 2022, 01:15 PM
Will keep away from issues between Kerala govt and Guv: Congress Thu, Aug 11, 2022, 01:14 PM
Ross Taylor reveals accounts of racism in New Zealand cricket through his autobiography Thu, Aug 11, 2022, 01:10 PM