Report says Reliance to acquire Milkbasket for over $40 million

It seems to be a season acquisition and consolidation in the e-grocery segment. Just after the news of Tatas acquiring BigBasket comes the development that the Reliance group is all set to take over the online milk and grocery startup Milkbasket.

Reliance gobbling up Milkbasket has been doing the rounds since last year. But the deal did not go through for various reasons, not the least for some internal stakeholders issue within the Gurugam-based startup.

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