Tata Sons Approaching Global Investors To Raise $2-2.5 Billion For Its Digital Business Push: ReportChandrasekaran speaks during a news conference in Mumbai. Photo credit: PUNIT PARANJPE/AFP/GettyImages

N Chandrasekaran led Tata Sons to have approached global investors to raise an estimated sum of $2-2.5 billion for its digital business push, reports The Economic Times.

Chandrasekaran had visited the United States (US) in May and has met with investors to showcase the group's foray into the e-commerce space. Tata Sons is likely to tap in private equity (PE) funds in the initial stage of its fundraising. At the same time, it will also look at strategic investors after the business demonstrates a sizable scale-up.

The development gains much significance as the group is readying for a pilot launch of its much-talked-about upcoming super app in Bengaluru in September.

It should be noted that a key member of the group's fundraising team is Cure-fit cofounder Mukesh Bansal. The health and fitness startup was acquired by Tata Digital just weeks ago, and after that, Bansal had joined Tata Digital as its president.

Bansal has been brought in keeping in mind his fundraising experience and over a decade of experience in running consumer internet businesses.

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber
Advertisement