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Tata Digital’s acquisitions and investment limit set at Rs 12,000 crore
Synopsis
Tata Digital is waiting for the Competition Commission of India’s approval for its deal to acquire a 64.3% stake in e-grocer BigBasket. The deal is pegged at about $1.2 billion (₹8,720 crore). The group is also reportedly in talks to acquire 1MG, an online pharmacy startup.
The Tata Group has set ₹12,000 crore as the limit to make acquisitions and investment through its newly set up ecommerce entity, Tata Digital, which is behind the salt-to-software conglomerate’s most ambitious ecommerce venture through the proposed SuperApp.Tata Digital has received most of the capital that the group put in its ecommerce businesses this fiscal year. The group holding company, Tata Sons, infused ₹400 crore into Tata Digital —
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