Under this business deal with the Tata group, Big Basket will launch an IPO in 2022-23. Under this, if any other investor wants to sell his stake in it, in that case the right of first refusal will be with the Tata group.
The Tata group will invest Rs 1500 crore in Big Basket, the country’s largest online grocery company. The Tata group is buying a major stake in Big Basket. Under this, he has invested 1500 crores in Big Basket. The Tata group is also trying to buy a majority stake in 1mg.
Alibaba can come out of the Big Basket
To buy a stake in Big Basket, the Tata group will pay $ 1.2 billion in the purchase of primary and secondary shares. This investment of the Tata group could give Alibaba and Abraaj Group, the two big investors of Big Basket, an opportunity to exit.
The Tata Group Big Basket deal will be completed in the next few days. This deal may be the biggest deal ever in the online business space. With this, the Bengaluru-based company will cross the valuation of $ 1.2 billion. Ali Baba holds 27.58 per cent stake in Big Basket, while Abraaj Group holds 18.05 per cent.
Big basket may bring IPO next year
Under this business deal with the Tata group, Big Basket will launch an IPO in 2022-23. Under this, if any other investor wants to sell his stake in it, in that case the right of first refusal will be with the Tata group. Big Basket CEO Hari Mohan said that the IPO may give some existing investors a chance to get out of it.
Nidhi Malviya is fun loving girl. She writes at NoobFeeds about various topics related to Finance, Technology, Business etc.