Tata Group to integrate all e-commerce ventures with Tata Digital
By MYBRANDBOOK
The Tata group will transfer the holdings of Tata UniStore, which runs Tata Cliq, to Tata Digital, making it the sole entity for all online shopping ventures. Tata UniStore was jointly owned by Tata Industries and Trent.
Tata Industries owns a 96.78 percent share and the rest is held by Trent. The group has valued Tata UniStore at Rs 750 crore and Tata Digital will be offering preference shares to Tata Industries and Trent on a private placement basis as consideration for the acquisition of Tata UniStore.
Recently, Tata group increased Tata Digital’s authorised capital to Rs 21,000 crore from Rs 20,000 crore and infused Rs 750 crore. It was done to repay debt and expand the business. In September, the authorised capital of the company was raised from Rs 15,000 crore to Rs 20,000. In March, the share capital was increased from Rs 11,000 crore to Rs 15,000 crore.
Tata Digital will compete with Amazon, Walmart-owned Flipkart and Myntra, and Reliance Industries in the Indian e-commerce space. It is driving a price war with its rivals, with discounts offered by it in categories like smartphones, electronics or fashion. However, in FY22, Tata UniStore’s net loss more than doubled to Rs 750 crore despite a 137 percent rise in its revenue.
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