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CCI approves Tata Digital s acquisition of BigBasket parent SGS
03 May 2021
The Competition Commission of India (CCI) has approved Tata Digital Limited’s acquisition of up to 64.3 per cent of the total share capital of the parent company of Big Basket grocery chain Supermarket Grocery Supplies Private Ltd (SGS) and SGS’ sole control over Innovative Retail Concepts Private Limited.
Tata Group had entered into a deal to acquire BigBasket, in a deal valued at over $1 billion, as part of the groups decision to enter the consumer related business sectors in a big way.
The deal marks Tata Group’s first major step towards its plan of setting up a “super-app”. While the company has significant presence in several other retail segments like electronics, fashion, and even an e-commerce portal TataCliq, it is yet to enter the online grocery segment.
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.
CCI approves Tata Digital s acquisition of a majority stake in Bigbasket
Tata Digital will acquire a 64.3 percent stake in Bigbasket, giving the conglomerate a strong foothold into the online grocery and fruits and vegetable delivery market.
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The Competition Commission of India (CCI) on Wednesday has approved the Tata Group’s acquisition of a majority stake in online grocery delivery company – Bigbasket.
“CCI approves acquisition by Tata Digital Limited of up to 64.3 percent of the total share capital of Supermarket Grocery Supplies Pvt Ltd (SGS) and SGS’ sole control over Innovative Retail Concepts Private Limited,” a statement read.
CCI approves Tata-bigbasket deal
April 29, 2021
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Tata Digital will buy 64.% stake in Supermarket Grocery Supplies which in turn will acquire control of Innovative Retail Concepts that operates bigbasket
The Competition Commission of India has given its approval to Tata group to acquire 64.3 per cent stake in bigbasket. The acquisition will be by done by Tata Digital, which is spearheading the Group’s e-commerce push.
Tata Digital will acquire up to 64.3 per cent of the total share capital of Supermarket Grocery Supplies Private Ltd (SGS) and SGS’ sole control over Innovative Retail Concepts Private Limited that operates bigbasket.
While the deal would help Tatas compete with retail giants such as Reliance Retail, Flipkart and Amazon, it would also mark the exit of Alibaba from bigbasket. This is part of the Tata plan to launch a super app offering multiple products and services.