Tag: BigBasket

Competition Commission of India approves BigBasket’s 64% stake sale to Tata Digital

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INDIA – The Competition Commission of India (CCI) has given the green light for Tata Sons’ proposal to acquire a majority stake in Alibaba-backed BigBasket. Tata Digital, a wholly-owned subsidiary of Tata Sons, had sought CCI’s approval to acquire a 64.3% stake in Supermarket Grocery Supplies, the business-to-business arm of BigBasket, through a mix of primary and secondary share purchases. This is after the group had finalised a US$1.2 billion deal to acquire a majority stake in BigBasket, of which US$200-250 million would be a primary cash infusion into the…

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Indian online grocer BigBasket registers losses in 2020 despite of 36% growth in revenue growth

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INDIA – BigBasket, a leading Indian online grocer, has reported a 26% rise in losses for the 2020 financial year even as it managed to record a 36% growth in revenues, regulatory documents have shown. During the 2020 financial year, losses shot up to Rs 710 crore (about US$97.335 million) from Rs 562.6 crore (about US$77.127 million) in FY19, driven up by a one-time cost of Rs 117 crore (about US$16.039 million). The rise in losses was despite of the company recording a 36% growth in revenues. Revenues rose to…

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Tata Group eyes majority stake in India’s largest online grocer BigBasket

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INDIA – India multinational conglomerate Tata Group is in advanced talks with Alibaba- backed online grocer BigBasket, to acquire a 50% controlling stake for about $1 billion. If successful, the deal could see the Alibaba Group which is the grocer’s largest investor sell its 26% stake along with a clutch of financial investors which include Ascent Capital, CDC Group and the Abraaj Group. The negotiations with Tata Group come at a time when BigBasket is engaged with investors like Temasek, Generation Investment Management, Fidelity and Tybourne Capital, to raise US$350-400…

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Indian Digest: Online food delivery startups BigBasket, Swiggy and Zomato raise funds

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INDIA – The ongoing Covid-19 pandemic induced lock down has let Indians discover the convenience of shopping for food and groceries online leading to a surge in demand. BigBasket, one of the leading online grocer in the country says that the company is getting a lot of traffic without splurging anything on marketing and promotions as a lot of people who would have never used an online service are now ordering online. To support the Bengaluru-based firm with the much-needed capital, BigBasket has raised US$50-60 million in a bridge round…

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India keen to tap into the growing appetite for healthier eating options

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INDIA – The food and beverage industry in India is seeing a very definite change in the healthy food segment supported by the growing demand for healthy, homestyle food by consumers across cities and towns. The country has recorded an upsurge in new health and organic food products for various segments as consumers are increasingly looking to eat right – a trend that has seen several new fast moving consumer goods focusing more on healthy food segment. According to a recent ET Retail report, online food delivery platforms in the…

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India’s online grocery retail market set to reach US$10.5bn by 2023

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INDIA – Online food and grocery retail in India is estimated to hit US$10.5 billion or 1.2% of the overall market by 2023, according to a recent report released by consulting firm Redseer. Redseer forecasts that growth in the sector, which currently accounts for just 0.2% of the overall market, will be driven by an increased assortment of products and efforts like express delivery operations. Currently, online platforms including Bigbasket and Grofers have been the most prominent players in the industry. Bigbasket currently has over 100,000 orders a day, while…

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Indian online grocer BigBasket merges two core arms to speed up delivery

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INDIA – BigBasket, an Alibaba-backed online grocer in India has merged two core business, the on-demand 90-minute delivery and planned next-day orders as it seeks increase efficiencies in its business. The Bengaluru-based grocery said that the reorganization will help in supplying a larger selection of items to its customers in less than 4 hours. The on-demand business offered a smaller range of products, while customers got to choose from a larger range in the case of next-day delivery. According to an update by ET Retail, with the transition, the company…

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BigBasket to invest US$100m in strengthening supply chain in expansion strategy

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INDIA – BigBasket, India’s leading grocery retailer, is set to invest US$100 million (Rs 698 crore) in strengthening its supply chain by setting up vending machines and smaller distribution centres across various cities it operates in.    This follows the US$150 million financial boost that the Alibaba-backed company recently raised, which was led by Mirae Asset-Naver Asia Growth Fund, CDC Group and Alibaba Group. The online grocery platform which operates in 25 cities across India, plans to increase its efficiencies through the investment. The proceeds of the fundraising will also…

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BigBasket secures US$150m funding led by South Korea’s Mirae

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INDIA – India’s leading grocery retailer, BigBasket has raised US$150 million in funding led by South Korea’s Mirae Asset Management to expand its online platform. According to ET Retail report, the latest round which was also backed by UK’s development finance institution CDC Group, along with Chinese e-commerce giant Alibaba values BigBasket at close to US$1.2 billion. With the investment, Mirae which poured US$60 million in the online grocer will hold around 5%, while CDC, which infused $40 million, will hold a 3.5% stake in the company. Alibaba, owned by…

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BigBasket completes acquisition of RainCan, Morning Cart and Kwik24

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INDIA – Online grocery store BigBasket has completed the acquisition of three startups, taking 100% stake in two milk ventures RainCan and Morning Cart and a controlling stake in Kwik24, according to an ET Retail report. RainCan and Morning Cart acquisitions marks the company’s entry into micro-delivery segment which includes milk delivery and omnichannel grocery delivery. According to Entrackr, he Bengaluru-based Morning Cart team will be joining BigBasket as part of the deal. Morning Cart operates a subscription model which delivers morning and daily essentials such as dairy, meat, bakery,…

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