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India's BigBasket in talks for possible merger with Grofers India: report
April 19, 2017 / 4:09 AM / 5 months ago

India's BigBasket in talks for possible merger with Grofers India: report

Employees sort out orders before sending them out at a Big Basket warehouse on the outskirts of Mumbai November 4, 2014. REUTERS/Danish Siddiqui

(Reuters) - India’s online grocery delivery service BigBasket and smaller rival Grofers India Pvt. Ltd. have begun talks on a possible merger, Indian newspaper Mint reported on Wednesday, citing sources.

If the merger goes through, SoftBank Group (9984.T), which is an existing investor in Grofers', will participate in a $60 million to $100 million funding round in the merged company, the report added. (bit.ly/2o1FBzz)

The talks, which are in early stages, may value BigBasket at about $700 million to $800 million, while Grofers could be valued at $150 million to $200 million, Mint added.

Online grocery sales are a fast growing segment in India’s e-commerce industry as more consumers log in to internet for their purchases.

Reporting by Samantha Kareen Nair in Bengaluru; Editing by Euan Rocha

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