Majority Stake Of Online Grocery Startup Bigbasket Acquired By Tata Digital
- ByStartupStory | May 29, 2021
“CCI approves acquisition by Tata Digital Limited of up to 64.3 percent of the total share capital of Supermarket Grocery Supplies Pvt Ltd (SGS) and SGS’ sole control over Innovative Retail Concepts Private Limited,” a Competition Commission of India (CCI) statement said on Bigbasket acquired by Tata Digital Earlier, in April, the CCIhad approved the deal.
With this deal, Bigbasket acquired by Tata Digital has poised itself in direct competition with major conglomerates, including Reliance Industries’ Jio Mart, e commerce giant Amazon Inc., and Walmart-owned Flipkart, in expanding its online grocery delivery footprint.
“Grocery is one of the largest components of an individual’s basket in India, and Bigbasket, as India’s largest e-grocery player, fits in perfectly with our vision of creating a large consumer digital ecosystem. We are delighted to welcome Bigbasket as part of Tata Digital.” Pratik Pal, CEO, Tata Digital, said about Bigbasket acquired by Tata Digital.
Speaking on bigbasket acquired by Tata Digital, Hari Menon, CEO, Bigbasket, said, “We are extremely excited about our future as part of Tata Group. As a part of the Tata Ecosystem, we would be able to build stronger consumer connections and accelerate our journey.”
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