Pixr8

BigBasket and Grofers are in Talks For Possible Merger

BigBasket and Grofers are in Talks For Possible Merger

India’s online grocery delivery service BigBasket and smaller rival Grofers India Pvt. Ltd. have begun talks on a possible merger, Indian newspaper Mint reported on Wednesday, citing sources.

If the merger goes through, SoftBank Group (9984.T), which is an existing investor in Grofers’, will participate in a $60 million to $100 million funding round in the merged company, the report added.

The talks, which are in early stages, may value BigBasket at about $700 million to $800 million, while Grofers could be valued at $150 million to $200 million, Mint added.

Online grocery sales are a fast growing segment in India’s e-commerce industry as more consumers log in to internet for their purchases.

Related Posts

Facebook Comments