BigBasket gets another Rs 350 cr from holding company

Bengaluru: Tata Digital-owned Innovative Retail Concepts, which runs online grocery platform BigBasket, has received Rs 350 crore from holding company Supermarket Grocery Supplies, regulatory filings sourced from business intelligence platform Tofler showed.

The latest investment was approved on May 24, according to the filings.

ET reported in April that BigBasket had received Rs 1,000 crore from the holding company.


The additional investment comes at a time when Tata Digital is promoting its super app Tata Neu.

Tata Digital launched the app on April 7 after multiple delays and advertised it throughout the Indian Premier League (IPL).

Tata Digital owns around 64% in Supermarket Grocery Supplies.

Innovative Retail Concepts was made a subsidiary of Supermarket Grocery after Tata Digital acquired the BigBasket operator, ET reported in October last year.

ET reported on March 23 that the company was building a multi-model approach for its business.

Amid a rush for 10-minute deliveries, the company is working on a one-hour delivery model to go along with its 20-minute and next-day delivery models.

ET reported on March 11 that BigBasket was expected to close the current financial year with gross sales of $1.3 billion, compared with $1 billion last year.

It aims to grow gross sales by around 40% in the next couple of years.