Tata gets green signal from CCI to acquire majority stake in BigBasket

The CCI has approved Tata Group's proposal to acquire over 64% stake in online grocer BigBasket. The deal to acquire a majority stake in BigBasket will give Tata Group an edge to compete with the likes of Reliance Industries Limited and Amazon, which are also trying to strengthen their footing in India’s online grocery space.

Tata Group's proposal to acquire a majority stake in online grocer BigBasket has been approved by the Competition Commission of India (CCI). The move is likely to intensify the competition between large conglomerates who are looking to strengthen their position in India's fast-growing online grocery segment. Tata Digital, which is a wholly-owned subsidiary of Tata Sons, had earlier sought the CCI's permission to acquire 64.3 per cent stake in BIgBasket’s business-to-business wing, Supermarket Grocery Supplies, through a mixture of primary and secondary share purchases. In a separate transaction, Supermarket Grocery Supplies is likely to acquire control over Innovative Retail Concepts that operates BigBasket’s online retail business. This will give Tata control over both wholesale and retail business units of BigBasket.