Bigbasket In Talks For Possible Merger With Grofers India
- by B2B Desk 2017-04-19 12:35:12
India’s online grocery delivery service BigBasket and smaller rival Grofers India have begun talks on a possible merger, newspaper Mint reported on 18 April, citing sources. If the merger goes through, SoftBank Group, which is an existing investor in Grofers, will participate in a $60-100 million funding round in the merged company, the report added.
The talks, which are in early stages, may value BigBasket at about $700-800 million, while Grofers could be valued at $150-200 million, Mint added.
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