Alibaba to invest $300M (₹2000Cr) in Big Basket

  |   Tech News

The Economic Times is reporting that Alibaba is poised to buy over a third of online grocer BigBasket in a transaction worth $300M.

The Alibaba-backed online retailer Paytm Mall is also likely to invest as a part of the $300-million round depending on the final structure of the deal.

The transaction is expected to involve a primary investment of about $220 million while $80 million will be used to acquire shares from existing investors.

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