Tata Group in order to further intensify its stake in the digital market is planning to transfer the holding of Tata UniStore, which owns and runs the luxury-focused and fashion ecommerce platform Tata Cliq, to Tata Digital as per reported by The Economic Times.
Tata Digital will now become the sole entity for all online shopping ventures of the Tatas, including Big Basket, Tata Neu and Croma.
The joint owners of Tata Unistore were Tata Companies & Industries and Trent with Tata Industries owning 96.78% and the balance held by Trent. Currently, Tata Unistore is valuing at Rs.750 crore and Tata Digital will offer preference shares to both Tata Industries and Trent as consideration for the acquisition of Tata UniStore, as per reported by The Economic Times.
Tata Group has not officially said anything regarding these comments.
The group recently increased the share of Tata Digital by Rs.1,000 crore making the share amount to Rs.21,000 crore and infused fresh Rs.750 crore. Tata group said that the money was infused keeping in mind the group’s business plans and payment of debts in the future.
This is the second time this year when the company has increased the share of Tata Digital. Earlier it increased the share from Rs15,000 crore to Rs.20,000 crore with a capital infusion Rs.3462 crore. And before that the share was increased from Rs. 10,000 crores to Rs. 15,000 crores.
Tata group has big ambitions and is competing in the market with big e-commerce ventures like Amazon and Flipkart.
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