Tata approaches CCI to pick 64% stake in BigBasket
Tata Digital Ltd has proposed to acquire 64.3 per cent stake in Supermarket Grocery Supplies Pvt Ltd (SGS), which handles business-to-business sales of BigBasket brand
- Mar 12, 2021,
- Updated Mar 12, 2021 9:23 PM IST
Tata Sons has approached the Competition Commission of India (CCI) to pick up a majority stake in online grocery delivery platform BigBasket. The salt-to-software conglomerate intends to acquire the stake through its wholly-owned subsidiary Tata Digital.
The acquisition will propel Tata Group into the immensely competitive online grocery retail market, which saw manifold growth during the lockdowns due to the COVID-19 pandemic. The sector is currently witnessing a tough contest between Amazon, Walmart-owned Flipkart, Reliance Industries' retail arm Reliance Retail, and Grofers.
In the filing to CCI, Tata Digital Ltd (TDL) proposed to acquire 64.3 per cent stake in Supermarket Grocery Supplies Pvt Ltd (SGS), which handles business-to-business sales of BigBasket brand, through a combination of primary and secondary acquisitions in one or more tranches.
Tata Sons has approached the Competition Commission of India (CCI) to pick up a majority stake in online grocery delivery platform BigBasket. The salt-to-software conglomerate intends to acquire the stake through its wholly-owned subsidiary Tata Digital.
The acquisition will propel Tata Group into the immensely competitive online grocery retail market, which saw manifold growth during the lockdowns due to the COVID-19 pandemic. The sector is currently witnessing a tough contest between Amazon, Walmart-owned Flipkart, Reliance Industries' retail arm Reliance Retail, and Grofers.
In the filing to CCI, Tata Digital Ltd (TDL) proposed to acquire 64.3 per cent stake in Supermarket Grocery Supplies Pvt Ltd (SGS), which handles business-to-business sales of BigBasket brand, through a combination of primary and secondary acquisitions in one or more tranches.