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BigBasket s 64.3% stake sale to Tata gets Competition Commission of India s approval
Competition Commission of India has approved Tatasâ proposal to acquire up to 64.3 per cent stake in BigBasket, a deal that will provide the diversified group a strong foothold in the fast-growing online grocery market.
Under the deal, Tata Digital Ltd (TDL) will purchase up to 64.3 per cent of the total share capital of Supermarket Grocery Supplies Pvt Ltd (SGS) as well as SGS sole control over Innovative Retail Concepts Pvt Ltd.
SGS is into B2B (business-to-business) sales through the portal business.bigbasket.com.
Innovative Retail Concepts Pvt Ltd (IRC) is engaged in B2C (business-to-consumer) sales through www.bigbasket.com and related mobile applications.
NEW DELHI: Competition Commission of India has approved Tatas proposal to acquire up to 64.3 per cent stake in BigBasket, a deal that will provide the diversified group a strong foothold in the fast-growing online grocery market.
Under the deal, Tata Digital Ltd (TDL) will purchase up to 64.3 per cent of the total share capital of Supermarket Grocery Supplies Pvt Ltd (SGS) as well as SGS sole control over Innovative Retail Concepts Pvt Ltd.
SGS is into B2B (business-to-business) sales through the portal business.bigbasket.com.
Innovative Retail Concepts Pvt Ltd (IRC) is engaged in B2C (business-to-consumer) sales through www.bigbasket.com and related mobile applications.
Agricultural E-commerce Market Outlook 2021: Big Things are Happening sandiegosun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sandiegosun.com Daily Mail and Mail on Sunday newspapers.
Tata approaches CCI to pick 64% stake in BigBasket
Tata Digital Ltd has proposed to acquire 64.3 per cent stake in Supermarket Grocery Supplies Pvt Ltd (SGS), which handles business-to-business sales of BigBasket brand
BusinessToday.In | March 12, 2021 | Updated 21:23 IST
Tata Sons has approached the Competition Commission of India (CCI) to pick up a majority stake in online grocery delivery platform BigBasket. The salt-to-software conglomerate intends to acquire the stake through its wholly-owned subsidiary Tata Digital.
The acquisition will propel Tata Group into the immensely competitive online grocery retail market, which saw manifold growth during the lockdowns due to the COVID-19 pandemic. The sector is currently witnessing a tough contest between Amazon, Walmart-owned Flipkart, Reliance Industries retail arm Reliance Retail, and Grofers.
Town Essentials serves Rs 231 crore notice to BigBasket, DailyNinja
The notice also names earlier investors of DailyNinja, BigBasket co-founder Hari Menon and DailyNinja co-founders Sagar Yarnalkar and Anurag Gupta.
BusinessToday.In | February 8, 2021 | Updated 20:05 IST
Town Essenials had signed a contract with DailyNinja in 2017 to be its exclusive backend supplier and procurement partner.
Grocery platform Town Essentials Pvt Ltd has sent a Rs 231 crore notice to DailyNinja and BigBasket for violation of a contract.
The notice has been served to DailyNinja Delivery Services Pvt Ltd, which operates grocery delivery platform DailyNinja, and SuperMarket Grocery Supplies Pvt Ltd, which operates BigBasket, Mint reported on Monday.