News Update

Tata Digital buys Cliq from UniStore

• ByStartupStory     |    December 28, 2022

Tata Digital, the Tata Group’s ecommerce and retail arm, has consolidated all of its ecommerce ventures by transferring ownership of Tata UniStore. UniStore operates Tata Cliq, a fashion and luxury ecommerce platform that will now be part of Tata Digital.

Tata Digital will now be the sole entity responsible for all of the Tata Group’s online shopping ventures, including Tata Neu, BigBasket, and Croma, according to regulatory filings.

The move comes after Tata Digital increased its authorized share capital from INR 15,000 Cr to INR 20,000 Cr in order to raise additional funds from Tata Sons. The Tata Group has also recently invested another INR 1,600 Cr in Tata Cliq parent company Tata UniStore.

According to reports, Tata Digital has already received board approval to raise INR 3,462 Cr in two tranches from Tata Sons, bringing the total issued share capital to INR 15,934 Cr. It intends to use the new funds to repay debt, infuse working capital, make investments, and other things.

The Tata Group reportedly valued Tata UniStore at INR 750 Cr ($100 Mn) under ‘Project Tulip,’ offering preference shares to Tata Industries and Trent (joint owners of Tata UniStore) to acquire the UniStore business.

As of now, Tata Digital is the parent company of many acquired companies like Grameen eStore, Urja, AccessBell, 1mg, BigBasket and CureFit. The parent company has by far invested over $500 Million and even changed leadership in order to create a startup-like ecosystem — a fast-paced culture filled with young talent.

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