Tata set to acquire BigBasket to boost its super app
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Tata Group has reportedly reached an agreement to acquire a majority stake in online grocery platform BigBasket in order to boost its yet-to-be-launched ‘super app’ play, which will combine the company’s consumer offerings on a single platform. According to an ET report, Tata will acquire up to 68% stake in BigBasket for $1.31 Bn. Meanwhile, a TechCrunch report noted that the deal is pegged at $1.8 Bn to $2 Bn.