CCI approves Tatas’ proposal to acquire majority stake in BigBasket

The Competition Commission of India (CCI) on Thursday approved the Tata Group’s proposal to acquire a majority stake in BigBasket. Tata Digital can buy up to 64.3% of the total share capital of Supermarket Grocery Supplies (SGS), the business-to-business vertical of the e-grocer, through a combination of primary and secondary acquisitions. Subsequently, through a separate transaction, SGS may acquire sole control over Innovative Retail Concepts (IRC), a subsidiary of BigBasket that runs the consumer facing website bigbasket.com, filings showed.

The transaction, valued at close to $1.2 billion, would value BigBasket at an estimated $1.5 billion. The deal paves the way for the Tatas to create a super app, that is a service through which a company aims to bring all its consumer offerings on a single platform.