Tata gets Competition Commission approval to acquire 64.3% in BigBasket

Tata Digital can acquire up to 64.3 % of the total share capital of Supermarket Grocery Supplies Private, which owns the online grocer.

The Competition Commission of India (CCI) on Thursday approved Tata Digital’s acquisition of a majority stake in online grocer BigBasket.

Tata Digital can acquire up to 64.3 per cent of the total share capital of Supermarket Grocery Supplies Private Ltd (SGS). SGS can acquire the sole control over Innovative Retail Concepts Private Ltd, which operates BigBaskt’s online retail business.

Tata Digital will now give exit to investors Alibaba, which holds around 29 per cent stake in BigBasket, along with investors Actis LLP (16.3 per cent), and IFC (4.1 per cent). Tata has finalized plans to acquire this stake for about