Tatas deal to buy up to 64.3% stake in BigBasket gets CCI approval

Competition Commission of India has approved Tatas’ proposal to acquire up to 64.3 per cent stake in BigBasket, a deal that will provide the diversified group a strong foothold in the fast-growing online grocery market.

Under the deal, Tata Digital Ltd (TDL) will purchase up to 64.3 per cent of the total share capital of Supermarket Grocery Supplies Pvt Ltd (SGS) as well as SGS sole control over Innovative Retail Concepts Pvt Ltd.

SGS is into B2B (business-to-business) sales through the portal business.bigbasket.com.

Innovative Retail Concepts Pvt Ltd (IRC) is engaged in B2C (business-to-consumer) sales through http://www.bigbasket.com and related mobile applications.