in

Tata group is Planning to Invest Rs 3,500 Crore in Tata Cliq

Tata group is Planning to Invest Rs 3,500 Crore in Tata Cliq
Image Source - Google | Image by economictimes

Tata UniStore, which possesses Tata Cliq, asserted the board proposed again in the authorized share capital to Rs 5,000 crore from Rs 1,500 crore.

The Tata group plans to invest Rs 3,500 crore in Tata Cliq, the alliance’s e-commerce enterprise. Tata UniStore, which acquires Tata Cliq, asserted the board suggested gaining authorized share capital to Rs 5,000 crore from Rs 1,500 crore, The Economic Times reported, referring to a regulatory filing.

The trek in authorized stake capital will be accomplished through the issue of equity shares, the report added. In accordance with the filing, the paid-up share capital of Tata UniStore is Rs 1,203.12 crore, the report acknowledged.

Tata Cliq has also put forward its borrowing limit to Rs 490 crore. Tata UniStore CEO Vikas Purohit had not reacted to The Economic Times’ questions.

The action by the Tata Group arrives amidst the reports of the partnership functioning on a “super-app.” The reports furthermore indicate that Tata Digital, which oversees the group’s eCommerce projects, is in conversations to acquire a majority share in BigBasket.

What do you think?

164289 points
Upvote Downvote

Written by Ritik Gupta

His name is Ritik Gupta; currently pursuing law. He has always kept pride as his everything. He deems writing as not like any other hobby but a reflection of one’s intellectuality. He likes to research on the parasitic problems and then lay them down in such a means that can be of assistance to the society. He just not studies law but treats it a controversial weapon to defeat the wrong.

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading…

0

Elon Musk overtakes Jeff Bezos to become the world’s richest person

The Market Value of Cryptocurrencies Pushed Beyond $1 Trillion

The Market Value of Cryptocurrencies Pushed Beyond $1 Trillion