Paytm Mall to invest $200 million in BigBasket

Paytm Mall, the e-commerce division of India’s largest mobile wallet company,Paytm,is reportedly investing in online grocery firm BigBasket(BB). BB is currently valued at $450 million and is looking to take that up to $550 million with Paytm’s investment.BB had also been in talks with Amazon for a potential buyout. Besides takeover talks with Amazon, it had also explored a possible merger with domestic rival Grofers.