+1-888-308-5802      . .

Tata Group in talks with several investors for its new digital platform

Author : Pankaj Singh | Published Date : 2020-09-30 

Tata Group in talks with several investors for its new digital platform

 

  • The group is reportedly planning to consolidate its wide array of digital assets in an all-in-one e-commerce platform.
  • New investors might also help Tata cut its debt following the shutdown of its operations amidst COVID-19 pandemic.

Indian multinational conglomerate Tata Group has reportedly initiated talks with potential investors to acquire stakes in its new digital platform. Sources close to the matter stated that the group is planning to modernize its consumer businesses as well as consolidate wide array of its digital assets in an all-in-one e-commerce platform.

It is to be noted that Tata Group currently owns various entrenched consumer businesses such as joint venture with Starbucks in India, chain of Taj hotels, Star Bazaar supermarkets, Titan watch showrooms, and Tanishq’s jewelry stores, which already have an online presence.

If sources are to be believed, the group’s holding company Tata Sons Pvt. Ltd. is exploring and bringing in strategic and financial investors which also includes major technology corporations. However, discussions with investors are still at an embryonic stage and there is no assurance of a potential deal yet.

According to industry experts, bringing in outside investors would not only support Tata’s digital ambitions, but also it might help the group to reduce its debts following the shutdown of its operations amidst COVID-19 pandemic.

Tata Steel Ltd.’s net debt reached USD 114 billion while the net automotive debt of Tata Motors was recorded at USD 6.5 billion (480 billion rupees), cited sources with relevant information.

Reportedly, Tata’s apparent e-commerce platform will take on Walmart’s Indian venture Flipkart, Amazon.com, and Ambani’s Jio platform. In fact, Walmart is in talks with the group for an investment of around USD 25 billion in the conglomerate’s new digital platform.

Source Credits –

https://www.livemint.com/companies/news/tata-group-courts-investors-for-new-digital-platform-to-take-on-amazon-reliance-11601337290161.html

About Author

Pankaj Singh . .

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

Related News

Bayers new CEO initiates management job cuts to accelerate decision-making

Bayers new CEO initiates management job cuts to accelerate decision-making

Published Date: 2023-09-15         Author: Pankaj Singh

Bayer newly appointed CEO, Bill Anderson, has reportedly unveiled plans to streamline the companys management structure in a bid to expedite decision-making processes. This marks the first step in a broader effort to transform the embattled German company, which has been under pressure from inv... Read More>>

Smurfit Kappa in Merger Talks with WestRock worth $19 Billion

Smurfit Kappa in Merger Talks with WestRock worth $19 Billion

Published Date: 2023-09-08         Author: Pankaj Singh

Smurfit Kappa, a prominent player in the packaging industry, is reportedly engaged in merger discussions with its US counterpart, WestRock. This prospective merger has the potential to create a cardboard box-making powerhouse boasting a market value approaching $19 billion (€17.8 billion). Furt... Read More>>

RBC plans job cuts to take on anticipated economic softening

RBC plans job cuts to take on anticipated economic softening

Published Date: 2023-08-25         Author: Pankaj Singh

The Royal Bank of Canada is reportedly planning to reduce its workforce by approximately 1,800 jobs as part of cost-cutting measures, on account of the anticipated upcoming economic landscape. This decision comes after the country's largest bank surpassed analysts' predictions for the third ... Read More>>

© 2024 Fractovia. All Rights Reserved