Friday, 24 March, 2023

Tata close to announcing big investment deals in BigBasket, 1mg

<p>The Tata Group has finalised a $200-250 mn primary cash infusion in BigBasket and online pharmacy 1mg as part of its deal to acquire a majority stake in both the internet firms. Tata will shell out a total $1.2 bn, in a mix of a primary and secondary sale of shares, to acquire 60% stake in BigBasket. The conglomerate may provide a full exit to two of BigBasket&rsquo;s biggest investors, Alibaba and Abraaj Group, having 27.58% and 18.05% stake, respectively.</p> <p>&nbsp;</p>