According to Bloomberg News, Indian salt-to-software giant Tata Group may invest $2 billion in its mega app initiative to boost its digital operations.
The study stated the investment would improve Tata Neu’s digital products, repair technological issues, and meet new expenditure demands.
It said the injection would take two years if the deal went through.
According to the article, Tata Group has urged Tata Digital to find methods to increase the super app’s worth.
Tata Group and Tata Digital declined to comment.
Tata created the mega e-commerce app in April last year to compete with Amazon.com (AMZN.O) and Walmart’s (WMT.N) Flipkart.
Mumbai-based Tata Group is an Indian multinational. It is India’s largest company and operates in 100 countries on six continents.
“Father of Indian industry,” Jamsetji Tata, founded the Tata Group. Each Tata firm is run by its board and shareholders.
Philanthropic trusts own 66% of Tata Sons, while the Tata family holds a tiny stake.
2021–22 revenue was US$128 billion. As of March 2022, 29 Tata Group firms are publicly traded and worth $311 billion.
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