Paytm Mall eyeing stakes in Grofers as SoftBank initiates

Paytm Mall talking Grofers for a potential investment, may even lead to a merger. SoftBank initiated the deal being a common investor, ET reports Paytm Mall has about $170 million cash on hand and can easily back grocery retailing space, which has emerged as a top spot for the ecommerce industry thanks to Covid-19 SoftBank largely aiming to help Grofers to access (Paytm Mall) cash to deepen its runway, as new money looks hard to come

SoftBank Vision Fund (SVF) is an investor in Grofers, while SoftBank Group (SBG) is on Paytm Mall’s cap table. SBG owns about 20% in Paytm Mall, while Alibaba holds close to 35% stake, with SAIF Partners, eBay and Paytm’s founder and CEO Vijay Shekhar Sharma being the other shareholders. SVF’s stake in Grofers is more than 40% and is its largest shareholder. On the other side, Paytm Mall has also held discussions with milk delivery startup Milk-Basket for a possible investment or acquisition

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