BigBasket's August 2017 approval for FDI-backed food retail business resurfaces
Resurfacing a move from August 2017: BigBasket had received government approval to retail food products made or produced in India with FDI. The company was required to set up a separate entity for the business and had indicated an investment of about Rs 100 crore in its application.
BigBasket received government approval for FDI-backed retail of food products manufactured or produced in India. It must create a separate entity for the business, and had indicated around Rs 100 crore investment when applying.
Why this matters
The resurfaced 2017 approval adds context to BigBasket's Hyderabad large-format offline pilot and its broader offline expansion ahead of a potential 2025 IPO.
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