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BigBasket In Talks For Possible Merger With Grofers India: Report

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BigBasket In Talks For Possible Merger With Grofers India: Report

BigBasket may be valued between $700 million to $800 million, the report said.

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

If the merger goes through, SoftBank Group, 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.

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

© Thomson Reuters 2017


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