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Tag: tata group (page 1 of 2)

Airtel-TCS collaborate for ‘Made in India’ 5G

Bharti Airtel and Tata Group, to implement 5G networks, has announced a strategic partnership. Tata Group has integrated a totally indigenous telecom stack and has developed O-RAN-based Radio and NSA/SA Core. Starting Jan 2022, the technology will be made available for commercial use. The company has assured potential clients that the ‘Made in India’ 5G product and solutions are at par with the global standards.

Tata Digital makes the second major transaction as it buys majority stake in 1mg

Tata digital announced that it will be buying a majority stake in e-pharma startup 1mg, as it intends to build its super app. The Tata group-owned company, recently, has bought BigBasket and made an investment in Curefit. The financial details of the deal were not disclosed. The buying of a stake in 1mg will increase Tata digital’s reach as the e-pharma startup has a supply chain of over 20,000 pin codes and works with three advanced labs.

Tata group pursuing a deal to acquire Curefit

After getting major stakes in Bigbasket and 1mg, Tata group is looking to buy Curefit. There are plans to bring Curefit founder Mukesh Bansal on the board. Nothing is yet confirmed and plans may change. Curefit has been valued at $800 mn and has been badly affected by the pandemic as it shut down its cloud kitchens, fired 10% of its employees and the rest had to take pay cuts. In July 2020 more than 500 employees were sent on temporary leave.

Hacker group ShinyHunters publishes 20 mn BigBasket users data for free download

Hacker group ShinyHunters has published 20 mn BigBasket users database having email ID, phone number, address, scrambled password which is free to download. BigBasket had suffered a data breach in Nov last year, in which cybercriminals had stolen the data of 20 mn users. The incident has happened at a time when Tata Group has agreed to acquire BigBasket at a valuation of over $1.8 bn. The acquisition, at present, is awaiting regulatory approval.

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Tata Group to acquire 68% stake in BigBasket

The Tata group is acquiring 68 % stake in online grocery platform BigBasket for around ₹9,500 cr as it bids to expand in the fast-growing e-comm space in India. The deal provides an exit route for a host of investors of BigBasket, including Chinese billionaire Jack Ma-controlled Alibaba. Tata group’s acquisition puts the enterprise value of BigBasket at over ₹13,500 cr. The move comes at a time when the group is working to develop a super app in the world’s second-largest internet market.

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

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’s biggest investors, Alibaba and Abraaj Group, having 27.58% and 18.05% stake, respectively.

Tatas may pick up majority stake in e-pharmacy firm 1mg

The Tata group is in talks to acquire a majority stake in online pharmacy 1mg. The deal, if goes through, could intensify the battle in India’s e-pharmacy sector, as Tata, Reliance and Amazon are battling for a piece of pie. In Aug, Reliance Retail acquired a 60% stake in the parent company of Netmeds. Amazon also rolled out prescription drug delivery service in Bengaluru in partnership with Cloudtail. 1mg, as per reports, has been in talks to raise around $100 mn.

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Tata Group to buy majority stake in BigBasket, Alibaba set to take exit

Bigbasket may sell a majority stake for about $1bn to Tata Group, media reports said quoting sources. Alibaba Group, having 26 % stake in bigbasket.com, is expected to sell its entire stake in the start-up. The salt-to-software conglomerate is planning to launch a “super app”, as it plans to compete with Amazon and Reliance Industries in India’s booming e-commerce market. The online grocery startup competes with Walmart owned Flipkart and Amazon’s “Fresh” services.

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Tata Teleservices will provide the backbone to “SuperApp” of Tata Group

The salt to software conglomerate is set to launch its umbrella venture called “SuperApp” by December 2020. The Tata Teleservices of Tata Group will provide technical solutions to the SuperApp, which will revive the telco arm’s business. The Tata Teleservices is running under heavy losses. Thus, the SuperApp venture might possibly turn it into a profitable one, the company expects. The SuperApp will bring all  Tata businesses under one single app.

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