Alibaba Group Holding Ltd., China’s e-commerce giant, is planning to invest about $200 mn in India’s largest online supermarket, Bigbasket, according to media reports.
The deal is expected to be announced soon.
The transaction will add to a portfolio of strategic investments the Chinese ecommerce giant is building in India
Earlier, Bangalore-based grocery business had been in talks for an investment from Amazon.com Inc.
Bigbasket is the first comprehensive online grocery store in Bangalore, Hyderabad, Mumbai, Pune, Chennai, Delhi, Noida, Mysore, Coimbatore, Vijayawada-Guntur, Kolkata, Ahmedabad-Gandhinagar, Lucknow-Kanpur, Gurgaon, Vadodara, Visakhapatnam, Surat, Nagpur, Patna, Indore, Chandigarh Tricity, Jaipur, Bhopal, Ludhiana and Jalandhar.