Tata Digital procures BigBasket, gets CCI nod

The Competition Commission of India (CCI) has accepted attainment by Tata Digital Limited of up to 64.3 percent of the total stake capital of Supermarket Grocery Supplies Private Ltd and its single control over Innovative Retail Concepts (IRC), the company that runs BigBasket.

The Ministry of Corporate Affairs, states, “The proposed combination involves acquisition through a combination of primary and secondary acquisitions in one or more series of steps. Through a separate transaction, SGS may acquire sole control over IRC.”

Tatas have been looking to acquire into BigBasket for the past many months and the projected contract also provides a depart route for a horde of investors, including Chinese billionaire Jack Ma-controlled Alibaba.

The Tata group has proposed to acquire more than 60 percent stake in online grocery platform BigBasket, according to a filing, as the multinational seeks to expand in the fast-growing e-commerce space.

The group plans to buy up to 64.3 percent stake in Supermarket Grocery Supplies Pvt Ltd (SGS) in the course of a blend of primary and secondary acquisitions, a filing with the Competition Commission of India (CCI) showed. The parties to the anticipated deal are Tata Digital Ltd (TDL), SGS, and Innovative Retail Concepts Pvt Ltd (IRC) -- which is engaged in B2C (Business to Consumer) sales through www.bigbasket.com and related mobile applications.

Founded in 2011, BigBasket operates in 25 Indian cities. It competes with SoftBank-backed Grofers as well as Amazon India and Flipkart.