BigBasket valuation may touch $900 million; Here’s how it is set to become bigger

Several investors have lined to rake in money in BigBasket and latest to join the list is Chinese ecommerce giant Alibaba.

As per various reports, Alibaba, Paytm Mall, Temasek Holdings, Fosun Group, etc, are in fundraising talks with BigBasket.

Also, Alibaba has shown interest in picking up a stake in BigBasket.

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ET quoted sources as saying Alibaba-Paytm Mall combine have offered to invest $200 million in BigBasket at a valuation of nearly $900 million post the investment.

Meanwhile, Fosun's venture capital arm Kinzon Capital is in discussions with BigBasket for co-investment in the ongoing funding round with a cheque of $20-30 million. "It is for the founders to decide who they would like to go with," ET quoted sources as saying.

Alibaba and Alipay own over 50% stake in Paytm Mall and have been focussing on investments in grocery and physical retail investments across the globe.

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"As matter of policy, we do not comment on market speculation and rumours," an associate on behalf of Temasek said in response to ET's queries.

Apart from Alibaba, Amazon is also concentrating on the online grocery market in India. The company is likely to begin directly selling groceries and other food products online after recently securing the government's approval for its proposed $500-million foreign direct investment in the business.