Mukesh Bansal steps back from daily operations at Tata Neu

Bansal, who is also the co-founder of Cultfit, is also on the lookout for new e-ventures to launch

Mukesh Bansal, the president of Tata Digital has stepped away from the daily operations of Tata Neu, the commercial app under the former's wing, a report in the Economic Times said.

The development comes amid some senior-level changes that are taking place in the company.

Bansal joined Tata Digital in June 2021, and is the co-founder of the digital shopping giant Myntra. However, the recent shakeups in Tata Digital now mean Bansal's role in Tata Neu's business has diminished as he is meant to stay on as an advisory member for Tata Neu.

Tata Digital is headed by Pratik Pal who manages all the business dealings for the company, the report said. The report quoted a person saying that Tata Digtal does not want to grow the newly launched Tata Neu while overlooking its unit economics and the reason for the change in Bansal's role could be due to the fact that Tata Digital sought a different take on increasing profitability of a new online business.

Bansal, having joined the group in 2021 was also expected to help the members bring in more capital for Neu but so far, despite some talks with investors, Tata Neu is largely funded by the parent company of Tata Sons.

Bansal, who is also the co-founder of Cultfit along with former Flipkart executive Ankit Nagori in 2016, is on the lookout for new e-ventures to launch which are at incubation stages. The fitness venture is mainly run by former Myntra executive Naresh Krishnaswamy.

Before Bansal, some other executives at Tata Digital such as Prateek Mehta and Sharath Bulusu have also resigned, who had been hired by Bansal from other e-ventures like Flipkart group, Udaan, Blinkit.

According to reports, Tata Neu has added over 10 per cent of total gross sales as compared to other e-grocery stores like BigBasket but the report quoted people in the know saying that the owners are happy with the way Neu has been progressing, although the owners plan to bring in external brands to the app too.

Recent reports have suggested that Vinay Choletti, who was the former head of WhatsApp Pay is in talks to join Tata Digital as part of their payments, business team.