Walmart Inc. is in talks with Tata Group for an investment of up to $25 billion in the proposed "super app" of the salt-to-software conglomerate, the Mint newspaper reported on Tuesday, citing people familiar with the matter.
According to the report, the ‘super app’ could be launched as a joint venture between Tata and Walmart and aims to create a digital services behemoth 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," the Mint newspaper quoted one of the two people.
The super app, which is scheduled to be launched in India in December or January, will bring together Tata's consumer business under one channel offering a wide range of products in the retail space, Mint report further said.
This development comes as Mukesh Ambani's Reliance Industries raised over $20 billion from investors including Facebook, Alphabet's Google, KKR & Co and Silver Lake Partners by selling stakes in its digital business Jio Platforms.