
Tata UniStore, which owns and operates the Tata Cliq platform, has been infused with the capital of Rs. 1,600 crore.
This is one of the largest fund infusions into Tata Cliq in the last five years. There is no reason attributed for raising the capital.
Media reports, based on the latest regulatory filings said that Tata UniStore’s filings with the Registrar of Companies shows that Rs. 1600 capital infusion was approved by the company’s board.
It is being said that with this, the group has already infused over Rs. 5,000 crore into the e-commerce business this fiscal, continuing the high pace of investment which had started last year.
The media reports also added that the company issued equity shares allotted on a rights basis to raise the cash to its parent, Tata Industries Ltd.
Tata UniStore has also raised Rs. 1,000 crore separately through unsecured, unlisted, redeemable optionally through convertible debenture route on rights basis to existing shareholders of the company – Tata Industries and Trent Ltd. This fund was raised for capital expenditure, working capital requirement, operating expenditure and other general corporate purposes of the e-commerce business.
Tata UniStore has not shared any information on these developments.
Experts believe that this capital infusion shows that its aim is to dominate the segment by leveraging its brand reputation and omnichannel approach.
In FY ’22, Tata UniStore’s net losses more-than-doubled to Rs. 750 crore though revenue jumped by 137 per cent to Rs. 844 crore.