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ETtech Exclusive: Zomato may invest $100 million in Grofers as e-grocer shelves US IPO plan
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Zomato s investment is likely part of a larger financing round and may value the Gurugram-based online grocery firm at around $1 billion
ETtech
Illustration: Rahul Awasthi
Mumbai: Food delivery app Zomato is in talks to invest around $100 million in e-grocer Grofers, two people in the know told ET, after discussions of a possible merger between the two fell through last year at the onset of the Covid-19 pandemic.
Zomato’s investment is likely part of a larger financing round and may value the Gurugram-based online grocery firm at around $1 billion, sources said. This time the talks have centred around a capital infusion, unlike last year when Zomato
Tatas get CCI nod for $1.2 billion Bigbasket buy
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Tatas get CCI nod for $1.2 billion Bigbasket buy
Digbijay Mishra & Reeba Zachariah / TNN / Updated: Apr 30, 2021, 05:40 IST
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BENGALURU/MUMBAI: The Competition Commission of India (CCI) cleared Tata Digital’s acquisition of a majority stake in Bigbasket without conditions. Tata Digital’s interest in Bigbasket first became public last October. The acquisition of a 64.3% stake in Bigbasket will make Tata Digital the leading player in e-grocery, setting the scene for a big battle with Amazon, Flipkart, JioMart and SoftBank-backed Grofers.
Tata Digital is a 100% arm of Tata Sons, the promoter of the $106-billion airline to automotive conglomerate. It will acquire 64.3% in Bigbasket’s online business-to-business arm Supermarket Grocery Supplies (SGS), the CCI said. Later, SGS will acquire ‘sole control’ over Innovative Retail Concepts (IRC), which is engaged in business-to-consumer sa
5 hours ago
The Competition Commission of India on Thursday cleared the Tata Group’s acquisition of BigBasket. Publishing its approval in a tweet, the CCI did not suggest any changes to the acquisition which is reported to be worth Rs 9,500 crore.
The CCI has approved Tata Digital Ltd’s acquisition of up to 64.3% of the total share capital of Supermarket Grocery Supplies Pvt. Ltd. which is engaged in online business-to-business transactions through business.bigbasket.com. The entity also operates bigbasket.com and related mobile applications. In a subsequent and separate transaction, SGS may acquire sole control over Innovative Retail Concepts Private Limited (IRC), which is into online retailing.
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