Tata Sons has halted fresh investments in its ecommerce and omnichannel electronics businesses, including Tata Neu, Croma, BigBasket, 1mg, and Tata Cliq in FY24. Tata 1mg plans a major offline expansion financed through debt, while BigBasket will use a mix of equity and debt totaling $80-100 million. Both companies are opting for debt over equity for expansion plans this financial year.
#LeadStoryOnET | No internal funds? No problem: Tata Digital's two biggest assets to go for debt-fuelled ride https://t.co/Q0tiGFxmiQ
#ICYMI- Top story on ETtech Tata funds pause is no 'debt-errent' at 1mg, BigBasket By @digbijaymishra1 https://t.co/0qzDVqltIP https://t.co/8uLUa0mlpc
Two major digital assets of the Tata group - BigBasket and Tata 1mg - are reportedly choosing debt over equity to finance their expansion plans this financial year. @VMukherjee7 #bigbasket #tata1mg #TataGroup https://t.co/6jTiXOopkv
As Tata Sons hits a pause on equity funding in Tata Digital, flight of capital takes an alt route for 2 of its biggest digital assets — BigBasket, 1mg. Both have imp capex planned this FY. BB in quick comm and 1mg plans major offline expansion How are they going about it? https://t.co/6Cqn44D8qC
#LeadStoryOnET | #Tata #funding pause no '#debt-errent': #1mg, #BigBasket eye major debt-fuelled expansion https://t.co/jX1dXjqnHT https://t.co/67jzajIOOB
🚨💊 Tata 1mg has secured board approval for a major offline expansion to be financed through debt, while the group’s egrocer, BigBasket, will go for an equity and debt mix of $80-100 million. Details 🧵👇
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🚨⏸️ For the first time in eight years, Tata Sons tightened its purse strings, halting fresh investment into its #ecommerce and omnichannel electronics businesses, such as super app Tata Neu, Croma, #BigBasket, 1mg and Tata Cliq in FY24. 🧵
#LeadStoryOnET | #TataSons hits pause on fresh funds till #eCommerce, #electronics businesses shape up https://t.co/z433aHaXN6 https://t.co/9HtK66SPGZ
☀️ Good morning, readers! Kick-start your day with these top stories from @ETtech ■ Hunt on for mule #bank accounts ■ Tata Digital pause on funding ■ #Amazon India admits violation in NCR unit ■ One #startup in every district soon https://t.co/p4UzdwRV3h
StartUp Central | Take a look at the top startup headlines this hour📢 ➡️ Ecom Express targets $170 mn via rights issue ➡️ CLSA positive note sweetens Zomato stock ➡️ Flipkart explored deal with Swiggy for quick comm ➡️ Northern Arc bags $75 mn debt from Dutch FMO https://t.co/uoR0QAbNza
ETtech Top 5 | #Ecom Express’ rights issue; #Google Cloud chief interview Also in this letter: ■ @Zomato growing faster than @Swiggy, says #CLSA ■ In-depth: #AI #connecting last mile ■ #ETtech Done Deals https://t.co/NdsxMYyicx