Tata Group acquires majority stake in BigBasket to cement play in groceries

After Tata Sons announced the acquisition of BigBasket on Friday, the e-grocery player’s co-founder and Chief Executive (CEO), Hari Menon, said it is going to be business as usual at the company.

“Everything is going to be the same and all the founders will continue to be in the company,” Menon said.

Cementing its foray into the online grocery market, Tata Sons, through its subsidiary Tata Digital, has acquired a majority stake in BigBasket. While the company declined to comment on valuations, reports suggest Bigbasket’s valuation at $2 billion.

The Competition Commission of India had last month approved Tata Digital’s acquisition of up to 64.3 per cent of the total share capital of BigBasket’s parent company Supermarket Grocery Supplies.