MUMBAI: China's Alibaba became the biggest shareholder in India's leading online grocer BigBasket after a US$300mil (RM1.16bil) funding round, stepping up its rivalry with Amazon in the country.
Alibaba invested US$146mil (RM568.88mil) in the grocer, subscribing to compulsorily convertible preference shares, BigBasket said in a filing to Indian regulators.
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