Tata Digital seeks additional cash from holding company Tata Sons to fuel its ambitious growth plans, one of its biggest assets, e- grocer BigBasket has seen a jump in its valuation following a secondary share sale at $2.7 billion.

Existing investors, Tata Digital and others are internally valuing the firm between $ 4 to 5 billion on the basis of its gross sales and projected annual growth in the coming years.

Sam Subramaniam, CEO, Brand Capital says, “we are delighted to be able to support BigBasket’s amazing growth since their early days. BigBasket serves millions of Indians daily and played a mission critical role during the pandemic lockdowns, in particular. We will continue to be their trusted partner as they grow and scale new heights within the Tata Group

Given the strong growth BigBasket has planned for, its valuation is much higher than the recent secondary share sale. The company has projected an annual growth of at least 40 percent in its gross sale in the next couple of years.

According to the reports, last year March, the company said that the global investors are yet to commit new capital to Tata Digital and are waiting for the much-hyped Tata Neu superspy to be launched. It is unlikely this will happen in March.

In May last year, Tata Digital had acquired a majority stake in the Bengaluru-based online grocery firmat a valuation of around $ 1.8 billion. Soon after, it pumped in around $ 200 million in the firm valuing it at $ 2 billion.