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Tata group wants a slice of BigBasket

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Tata group wants a slice of BigBasket

The Tata group is in talks to buy a stake in online grocer BigBasket as it plots to join Reliance Industries Ltd (RIL), Amazon and Walmart group in a market that is seeing explosive growth following the pandemic and lockdowns.

Two people familiar with the matter said the Mumbai-based conglomerate may in the first step join the ongoing fundraise of Alibaba-backed BigBasket, which is looking to raise around $200 million in primary equity infusion.

A potential deal will likely value BigBasket at nearly $2 billion, an almost 40% premium to its last fundraise, said one of the two people.

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The funding round is also likely to see participation from global investors such as Singapore’s Temasek Holdings and Generation Investment Management, a private equity firm co-founded by former US vice-president Al Gore, and former Goldman Sachs’ Asset Management head David Blood in 2004, the people said.

“Tata, Temasek and Generation Investment Management are in advanced talks with BigBasket. The deal size is around $200 million, which will be entirely primary capital to boost the company’s growth,” the second person said, seeking anonymity. “The transaction in all likelihood is a pre-IPO round, and a public listing is expected in 18 months”.

Both people cited above did not disclose the size of the stake Tata group is looking to buy.
A Tata group spokesperson declined to comment. Temasek and BigBasket, too, declined to comment. An email sent to Generation Investment Management did not elicit a response till press time.
According to a UBS Research note dated 21 September, modern retail is expected to expand faster than the overall retail market. “We estimate the proportion of modern retail in terms of sales could increase from 5.7% of the retail market in FY18 to 13.4% in FY23,” it said.
Tata’s interest in BigBasket comes at a time when the group is looking to enter the online commerce market in a big way.
In August, Financial Times cited Tata Sons chairman Chandrasekaran as saying the app would eventually encompass services from food and grocery ordering to fashion, electronics, insurance, healthcare and bill payments.

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$92.8 million

Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

Akshay Kumar and Priyadarshan, the acclaimed Indian director, celebrated their 68th birthday on Instagram. Kumar, who has worked with Priyadarshan on several cult comedies of the early 2000s, wished him a happy birthday and called him a mentor. The duo is now back together for their upcoming horror-comedy, Bhooth Bangla.

The first poster of the movie has been released, and it is expected to hit theaters in 2025. Akshay Kumar wore a black fedora and a green jacket, layered over a black tee, and fans have expressed their excitement for their new movie.

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The duo’s dynamic and deep bonding have been praised by fans, who have expressed high anticipation for their new movie. The first poster of Bhooth Bangla has already been released, and the movie is expected to hit theaters in 2025.

Akshay Kumar, the versatile Bollywood actor, recently celebrated director Priyadarshan’s birthday by sharing a behind-the-scenes (BTS) photograph from their upcoming film, “Bhooth Bangla.” In the image, Akshay humorously captioned, “Surrounded by ghosts…” The photo features Akshay alongside Priyadarshan and co-actor Paresh Rawal, all dressed in traditional attire, with a black cat perched on Akshay’s shoulder, adding a whimsical touch to the scene.

Reunion After 14 Years

This collaboration marks a significant reunion between Akshay Kumar and Priyadarshan, who last worked together on the film “Bhool Bhulaiyaa” in 2007. Their partnership has been celebrated in the past for delivering successful comedies like “Hera Pheri” and “Garam Masala.” Fans have eagerly anticipated their return to the big screen together, and “Bhooth Bangla” promises to be a delightful addition to their repertoire.

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About ‘Bhooth Bangla’

“Bhooth Bangla” is a horror-comedy that blends elements of suspense with humor, a genre in which both Akshay Kumar and Priyadarshan have excelled. The film is produced by Balaji Telefilms Ltd in association with Cape of Good Films. The motion poster released earlier this year features Akshay Kumar in a suit, with a cat on his shoulder, licking milk slyly, setting the tone for the film’s intriguing and humorous premise.

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Anticipation and Fan Reactions

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The BTS photo shared by Akshay Kumar has generated excitement among fans, who are eager to see the trio back together on screen. The playful caption and the presence of the black cat suggest that “Bhooth Bangla” will offer a mix of thrills and laughs, staying true to the successful formula of their previous collaborations.

As the release date for “Bhooth Bangla be a significant highlight in the upcoming entertainment lineup. The reunion of Akshay Kumar, Priyadarshan, and Paresh Rawal, combined with the intriguing premise and the playful BTS moments, has set high expectations among audiences. Fans can look forward to a cinematic experience that promises both chills and chuckles.

For a visual glimpse into the making of “Bhooth Bangla,” you can watch the following video Akshay Kumar expressed his gratitude as they once again united for their upcoming movie Bhooth Bangla. This marks a new chapter in their long-standing collaboration since the 2000s. He shared a picture from behind the scenes of their new movie, where it seems like they are laughing about something.

Akshay wrote,”Happy Birthday, Priyan Sir! What better way to celebrate than by spending the day on a haunted set, surrounded by ghosts…both real and unpaid extras? Thank you for being a mentor, and the only person who can make chaos look like a masterpiece. May your day be filled with fewer retakes. Wishing you a fantastic year ahead!”

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