Indian conglomerate Tata Group will buy a 68 per cent stake in Alibaba-backed online grocery startup BigBasket for about 95 billion rupees ($1.31 billion), television channel ET now said on Tuesday.
Tata's stake will translate into an enterpise value of 135 billion rupees for BigBasket, ET now said. Tata and Bengaluru-based BigBasket did not immediately respond to Reuters' request for comment.