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.
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