Tata Sons enters in E-Commerce business invests Rs 5,882 Crore in Tata Digital

Tata Group is all set to take on established giants such as Amazon and Flipkart in the Ecommerce space.

TATA ग्रुपने यासाठी आपल्याच एका कंपनीत तब्बल ५ हजार ८८२ कोटी रुपयांची गुंतवणूक केल्याची माहिती देण्यात आली आहे. टाटा सन्सची ई-कॉमर्स कंपनी असून, एका आर्थिक वर्षातील टाटाची ही सर्वांत मोठी गुंतवणूक असल्याचे सांगितले जात आहे.

. In this regard, the business conglomerate has invested an amount of Rs 5,882 crore to its flagship e-commerce platform Tata Digital.

As per a report, this is the highest ever fund allocation Tata Sons has made in a single tranche into its e-commerce business in any single fiscal year

Citing regulatory filings of Tata Group, The Economic Times reported that the additional funding takes overall investment into Tata Digital in 2021-22 to Rs 11,872 crore

According to the publication, the company has been mentioned in the filings to the Registrar of Companies (RoC) that the Tata Digital gave nod to “the allotment of 5.88 billion fully paid-up equity shares of Rs 10 each on a rights basis” to Tata Sons, the holding entity of Tata Digital, on March 30 this year.

Notably, the allotment was made on the day Tata Neu, the company’s all-purpose app, went live to compete with existing players like Flipkart, Amazon and other firms.

“Tata Digital, which is also the holding entity for the group’s electronics retail chain Croma, had received Rs 5,990 crore from Tata Sons in the nine months till December of 2021-22 in multiple tranches,” the report stated citing the regulatory filings.

The report further stated that on March 23, Tata Digital increased its authorised share capital to Rs 15,000 crore from Rs 11,000 crore to set the stage for the current round of capital infusion.