Indian conglomerates are in a race to acquire assets for building comprehensive business ecosystem around each business that they are in. Tata Group, Reliance Industries (RIL), Aditya Birla, Adani, JSW and Vedanta are among those acquiring smaller companies, including start-ups, to fill gaps in their portfolios.
Tata Sons has agreed to acquire control of India’s largest online grocer BigBasket, in a deal valued at more than $1 billion. Tata Digital, the newly floated subsidiary which is building Super App, looks to strengthen its e-tail portfolio through the acquisition. The salt-to-aviation conglomerate is also in talks with Just Dial, the 24-year old local discovery platform, as a part of its digital push. Just Dial recently launched B2B portal JD Mart.
Tata Group is also in the race for acquiring national carrier Air India. SpiceJet promoter Ajay Singh has also shown an interest in acquiring Air India. The group is also in talks to acquire e-pharmacy firm 1mg for $100 million.
