The Tata Group is in advanced talks for buying around 80 per cent stake in BigBasket for around $1.3 billion, valuing India’s largest online grocery store at $1.6 billion, said three people directly aware of the development.
After five months of negotiation, the Indian multinational conglomerate and BigBasket agreed on the deal structure. According to the proposal, Tata group would likely to buy 50-60 per cent stake from existing investors of online grocery store which includes Alibaba and other few key investors, said one of the three people. 
Subsequently, Tata Group will infuse fresh capital into BigBasket for buying new shares of about 20-30 per cent, giving the group almost 80 per cent in BigBasket. The deal will likely to be announced formally in the next few weeks, the person said. 
The second person said that Tata group’s main objective is to get largest market share in one shot and BigBasket can make it happen. The deal will also help the group for its proposed ‘Super App’ to add wide range of household items and grocery products.
According to the Forrester Research, BigBasket gets around 300,000 orders daily. It sells more than 18,000 products on its online platform and recently hit the gross merchandise value (GMV) of $1 billion. BigBasket has reported a loss of Rs 920 crore on the sales of Rs 5,200 crore for the year ended on 31 March, 2020. The Bengaluru-based online grocery store was valued at $1.23 billion in March.