Business deals taking place amidst pandemic are yielding good turns. Walmart Inc. is in discussions with the Tata group for a great stake acquisition in the proposed super app of the salt-to-software conglomerate, two people knowledgeable of the development stated. The ‘super app’ aims to create digital services between both giants offering a wide range of products in the retail space. “Tata group is in talks with Walmart for a deal entailing a strategic investment by Walmart in the super app platform business. The Walmart investment could touch $20-25 billion eventually for a large stake in the proposed super app to be hosted under a Tata Sons subsidiary," one of the two people spoke on condition of anonymity.

Stock market closed on first day of the week, Sensex-Nifty closed with excellent growth

If the deal turns out to be a yes, it will be termed as the country’s largest deal in the retail space ever, surpassing Walmart’s own May 2018 purchase of a 66% stake in Flipkart for $16 billion. As per the ongoing discussions between Tata and Walmart, the super app could be launched as a joint venture between Tata and Walmart, which will enable leveraging on the synergies between Tata’s e-commerce business and Flipkart.

RBI postpones Monetary Committee meeting, announces new dates soon

“The super app may include Flipkart’s offerings from Walmart and the entire retail product franchise housed by the Tata group on one platform for retail customers. And on the other hand, Flipkart could get to be powered by Tata," said the first person. According to the ongoing discussions, the new digital platform business is proposed to be run by Tata-Walmart together, and there could be more foreign investors roped in as investors. Goldman Sachs has been appointed as the investment banker by Walmart for the proposed transaction, one of the people said on condition of anonymity.

100 per cent discount on processing fees, SBI announces special benefits on loans