The online grocer BigBasket has begun the process of a new round of funding, and it is likely to value the Tata Digital-owned firm at around $3-3.5 billion. These are the words of three people. The latest funding for BigBasket comes from Tata Digital and the existing shareholders. The size of the round has not been finalized, but it is likely to be in the range of $200 million or even many more.
BigBasket is Bengaluru based and holds the Supermarket Grocery, from which Tata owns 62% filed documents with the Registrar of Companies. But now the plan to increase the authorized share capital of the firm is typically an indication of a fresh cash infusion on the cards.
In a secondary transaction, BigBasket is valued at $2.7 billion, and Brand Capital is the strategic investment arm of the Times Group. It is also published in the paper and utilized part of its stake in the firm. The last primary transaction of the BigBasket was valued at $2 billion in May last year. but is after the Tata Digital majority acquisition of the company.
Bigbasket is also working on a new cash infusion. It will happen at a pre-money valuation of around $3.2-3.3 billion, and these are the words of well-known people of the company.
FAQ
- How much company got funding in 1mg?
Ans. $41 million
- What is the second largest transaction made by BigBasket?
Ans. $2.7 billion
- What is the full form of ROC?
Ans. Registrar of Companies