Technology and Internet
Tata-BigBasket deal to intensify competition in online grocery space
29 Apr 2021
India’s online grocery space is headed for disruption, with
the entry of Tata Group. The Competition Commission of India (CCI) on April 29
gave the go-ahead to Tata Digital to acquire BigBasket, one of the country’s leading
online grocers.
Tata Digital, a wholly-owned subsidiary of Tata Sons,
approached the competition watchdog in March to acquire 64.3 percent of
Supermarket Grocery Supplies and for sole control over Innovative Retail
Concepts, the company that runs BigBasket. The deal is pegged at $1.2 billion,
giving BigBasket a post-money valuation of $1.8 billion.
The full article was originally published on Moneycontrol