Tata Group to buy BigBasket in over $1 billion deal

On Friday, as per a filing with the Competition Commission of India (CCI), Tata Sons Pvt. Ltd has agreed to acquire control of India’s largest online grocer BigBasket, in a deal valued at more than $1 billion.

Tata Digital Ltd, a Tata Group’s digital services company has intended to acquire up to 64.3% stake in Supermarket Grocery Supplies Pvt. Ltd (SGS) for $1 billion. SGS sells products to commercial units through business.bigbasket.com in the first step. Consequently, SGS could acquire full control of a company called Innovative Retail Concepts Pvt. Ltd (IRC), which sells products to customers using bigbasket.com. SGS and IRC sell food, grocery, household items, personal and beauty care products via the BigBasket app.

 

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