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Tata Near Deal to Buy Alibaba-Backed Indian Online Grocer

Workers unload crates of sauce at a BigBasket warehouse in Bengaluru, India, in 2018.
Workers unload crates of sauce at a BigBasket warehouse in Bengaluru, India, in 2018.Photographer: Samyukta Lakshmi/Bloomberg

India’s Tata Group is in advanced talks to buy as much as 80% of BigBasket in a deal that is likely to value the local online grocer backed by Alibaba Group Holding Ltd. at about $1.6 billion, a person familiar with the matter said.

The conglomerate is now negotiating how much stake it would purchase in Innovative Retail Concepts Pvt., which is commonly known as BigBasket.com, the person said, asking not to be identified discussing details of private talks. Mint newspaper reported earlier that Tata may buy close to 80% for $1.3 billion.