Alibaba, Paytm said to be in talks to invest in India's Bigbasket

Bangalore

CHINESE e-commerce giant Alibaba Group Holding Ltd and its Indian associate Paytm E-commerce Pvt are in talks to invest about US$200 million for a stake of roughly 20 per cent in India's leading online grocer, Bigbasket, according to a person with direct knowledge of the negotiations.

Alibaba and Paytm are in a 60-day exclusive pact with Bigbasket and are conducting due diligence, said the source, who did not want to be quoted as the negotiations are private. The two could invest as a team or separately, the source said.