India’s Tata Group is in talks with potential investors for a stake in its new digital platform. People associated with the case said that the company wants to modernize its consumer business as big retail companies like Amazon Inc and billionaire Mukesh Ambani are entering the country’s e-commerce market. Tata Sons Private is a $ 113 billion holding company that is a conglomerate ranging from coffee to cars, working with advisors to bring in financial or strategic investors, including global technology companies.
According to people, the group plans to bring different digital assets of Tata businesses together to form a new entity. A representative of Tata Sons declined to comment on the stake sale discussion. Tata’s platform which is an e-commerce gateway for its consumer products and services, ranging from jewelery to resorts.
It could compete with Ambani, Amazon.com and Walmart Inc’s Indian venture Flipkart’s ambitious plans and would like to capture more than 1 billion consumer markets. Ambani, chairman of Reliance Industries Inc., wants to create a digital empire in which he is depositing more than $ 20 million from major partners, including Facebook and Google. This fund is for their newly created technology venture Jio Platforms Limited.
