Paytm Mall likely to invest $200 mn in Bigbasket in October

Paytm Mall was in talks to buy 20% in e-grocer from primary stake sale

Bolstering its online grocery play, Paytm Mall is likely to announce its $200-million investment in e-grocery major Bigbasket next month. 

Paytm Mall was in talks to buy 20 per cent in the e-grocer from the primary stake sale. Sources said that the e-commerce player is likely to buy a stake from secondary sale as well, which might further increase its stake in the company. Paytm Mall declined to comment on the issue. 

Sources said that the company gave a rough valuation of $800 million to Bigbasket. 

“The deal is complete, there are a few minor things that are left to be done, the