Tata to Enter into Online Grocery Business


The Competition Commission of India (CCI) has finally approved the acquisition by Tata Digital Limited of up to 64.37 percent of the total share capital of Supermarket Grocery Supplies Private Limited (SGS) and SGS’ sole control over Innovative Retail Concepts Private Limited, which operates Big Basket’s online retail business.

With this approval Tata Digital will give exit to investors Alibaba that hold around 29 percent stake in the company, along with investor Arbaaj Group (16.3 percent) and IFC (4.1 percent).

Tata have finalised plans to acquire this stake for about Rs 9,300 crore.

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Knowledge Source:

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