Competition Commission of India Okays Tata Digital's 64% Stake in BigBasket
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.
According to a CCI notification, it has approved acquisition by Tata Digital of up to 64.3 percent of Supermarket Grocery Supplies Private Limited and its sole control over Innovative Retail Concepts Private Limited, the company that runs BigBasket.
Tata Digital is a wholly owned subsidiary of Tata Sons. While Supermarket Grocery Supplies operates the business-to-business division, Innovative Retail Concepts runs BigBasket.
Currently Tata Digital is in the business of providing technology services related to identity and access management, loyalty programme, offers and payments.
The Tata Sons group, through its entities, is engaged in the business of business-to business (B2B) sale of food and grocery, household products and personal and beauty care products in India; business-to consumer (B2C) sale of relevant products in India and in manufacturing and sale of certain packaged food and grocery products in the country.
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