Tata Group looks to acquire BigBasket, 1mg for $1.2 Bn
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Tata Group is looking to shell out about $1.2 Bn in order to make a formal entry into the online grocery and medicine segment by acquiring a majority stake in BigBasket and 1mg. The enterprise is looking to invest about $940 Mn-$950 Mn in BigBasket for about 67% stake, and $250 Mn in 1mg for a majority stake as well. Tata is expected to buy out Alibaba’s 30% stake in BigBasket.