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.
Competition Commission of India Okays Tata Digital s 64% Stake in BigBasket Competition Commission of India Okays Tata Digital s 64% Stake in BigBasket Competition Commission of India okays Tata Digital s proposal to acquire 64 per cent stake in Big Basket
Updated: April 29, 2021 12:03 pm IST
The Competition Commission of India (CCI) has approved Tata Digital Limited s offer of acquiring up to 64.3 per cent stake in Supermarket Grocery Supplies Private Ltd (SGS) which runs the online grocery delivery platform BigBasket. The decision will give a major boost to Tata Group s ambitious plans of expanding in newer domains.
Tata Sons had earlier approached the CCI with their proposal to pick up a majority stake in online grocery delivery platform BigBasket, through its wholly-owned subsidiary Tata Digital.
Tata gets CCI nod to acquire 64.3% stake in BigBasket s Supermarket Grocery Supplies
The wholly-owned subsidiary of Tata Sons had sought the CCI s approval for the acquisition through a mix of primary and secondary share purchase
BusinessToday.In | April 29, 2021 | Updated 13:40 IST
The Competition Commission of India (CCI) has approved Tata Digital s acquisition of 64.3 per cent of BigBasket s B2B arm Supermarket Grocery Supplies. The commission said Supermarket Grocery Supplies may acquire sole control of Innovative Retail Concepts that operates BigBasket s online retail unit. The wholly-owned subsidiary of Tata Sons had sought the CCI s approval for the acquisition through a mix of primary and secondary share purchase. This approval sets the stage for the impending battle of the giant s in the country s grocery segment that has players like Flipkart and Amazon Fresh.
The Competition Commission of India (CCI) has approved Tata Digital s proposed acquisition of 64.3 per cent stake in Supermarket Grocery Supplies Private Ltd (SGS), which operates the business-to-business arm of the online grocery firm .
Competition Commission allows Tata Digital to acquire 64.3% stake in Big Basket
IANS
29 April 2021
The proposed combination involves acquisition by Tata Digital Limited (TDL) of up to 64.3 per cent of the total share capital of SGS (on a fully diluted basis) through a combination of primary and secondary acquisitions, in one or more series of steps.
Subsequently, through a separate transaction, SGS may acquire sole control over Innovative Retail Concepts Private Limited (IRC).
The proposed combination will result in the acquisition by TDL of majority stake of and control over SGS.
Tata Digital Ltd (TDL) is a wholly owned subsidiary of Tata Sons Pvt Ltd, which is the ultimate holding company of the entities belonging to the Tata Sons group.