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Tag: Tata Sons (page 1 of 1)

Tata Sons acquires 64.3% stake in e-grocer BigBasket 

Tata sons via Tata Digital have got their hands on a 64.3% stake in Alibaba-backed online grocery store, BigBasket. In March, India’s antitrust body approved the stake acquisition which came to fruition this month. The deal is said to be worth Rs 95 bn, which will buy out Alibaba’s stake in the e-grocer. Tata group is now a direct competitor to Amazon, Walmart, and Reliance. Tata Digital plans to launch its super app in 2022, with all facilities on a single platform.

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Tata Digital in talks with Just Dial to foray into e-com space

Tata Digital has held talks with Just Dial to explore the option of striking a strategic alliance to venture into the e-com space. But, nothing has been finalised as of yet. The mergers and acquisitions team of Tata Sons has been putting together a list of possible partnerships that can help Tata Digital reach and scale-up in the online consumer space. The company is also said to be in talks with various other firms to finalise its ‘Super App’.

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Ratan Tata to exit his investment in Lenskart with 5x return

Ratan Tata to exit his investment in Lenskart Solutions. As many as 24,246 shares held by Ratan Tata will be converted into common equity shares for secondary sale, said media reports. Tata has purchased these shares at Rs 2 per share, as per the company’s regulatory disclosures. The Lenskart board gave the responsibility of monitoring the company’s equity-based remuneration plan for employees to Lenskart ESOP Trust.

FC Kohli, father of the Indian IT industry, TCS first CEO passes away

FC Kohli (96), Indian software industry’s most prominent and respected face and the first CEO of TCS, passed away in Mumbai on Thursday. Kohli believed in grooming leaders and building a generation of Indian IT and one of his hiring N Chandrasekaran is now Chairman of Tata Sons. S Ramadorai, who succeeded Kohli as CEO and MD of TCS, credited him for being “a demanding boss” and shaping him as well as the entire team.

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