Alibaba and Paytm are in a 60-day exclusive pact with Bigbasket and are conducting due diligence, said the person, who did not want to be quoted as the negotiations are private. The two could invest as a team or separately, the person said.
BANGALORE: Chinese e-commerce giant Alibaba Group Holding Ltd and its Indian associate Paytm E-commerce Pvt Ltd are in talks to invest about US$200mil for a stake of roughly 20% in India’s leading online grocer, Bigbasket, according to a person with direct knowledge of the negotiations.
Alibaba and Paytm are in a 60-day exclusive pact with Bigbasket and are conducting due diligence, said the person, who did not want to be quoted as the negotiations are private. The two could invest as a team or separately, the person said.
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