Tata to classify all e-commerce ventures under digital business, Tata Digital

28 Dec 2022 , 02:07 PM

Tata Digital will become the only entity for all of the Tata group’s online shopping ventures, including Big Basket, Tata Neu, and Croma, stated the reports.

According to the latest regulatory filings, the multinational conglomerate also intends to transfer the holding company for Tata UniStore, which owns and operates the fashion and luxury-focused e-commerce platform Tata Cliq, under Tata Digital.

According to the report, the move is intended to strengthen the group’s presence in e-commerce. Tata Digital stated in the filings that the authorized capital was also increased in light of its business plans, debt repayment, and future investments.

Tata Industries and Trent were joint owners of Tata UniStore, with the former owning 96.78% and Trent owning the rest. According to filings, the group has valued Tata UniStore at Rs750 crore, and Tata Digital will offer preference shares to Tata Industries and Trent on a private placement basis as consideration for the acquisition of Tata UniStore.

According to the report, the Tata Group competes in the Indian e-commerce space with Amazon, Walmart-owned Flipkart and Myntra, and Reliance Industries.

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