Tatas may buy a stake in BigBasket

Salt-to-software conglomerate Tata Group is in talks to buy a stake in online grocery startup BigBasket as it plans to take on major players in the retail space like Amazon, Reliance and Walmart group, reported the Mint newspaper.

Quoting two people familiar with the development, the Mint report said that the Tata Group may join the ongoing fundraise of Alibaba-backed BigBasket, which is looking at raising around $200 million in primary equity infusion.

One of the two people quoted in the report said a potential deal will value the online grocery startup at nearly $2 billion, which will be a 40 per cent higher than its last fundraising venture.