 "Bigbasket")
Tata Group is on its way to making its entry into the Indian online grocery segment.
The Competition Commission of India (CCI) on Thursday approved Tata Digital, a wholly owned subsidiary of Tata Sons, acquiring a majority stake in online grocery player Bigbasket.
The CCI has allowed Tata Digital to acquire up to 64.3 per cent of the share capital of Supermarket Grocery Supplies (SGS) and also have sole control over Innovative Retail Concepts, which operates Bigbasket’s online retail business. With this approval Tata Digital will give exit to investors Alibaba that holds around 29 per cent stake
The Competition Commission of India (CCI) on Thursday approved Tata Digital, a wholly owned subsidiary of Tata Sons, acquiring a majority stake in online grocery player Bigbasket.
The CCI has allowed Tata Digital to acquire up to 64.3 per cent of the share capital of Supermarket Grocery Supplies (SGS) and also have sole control over Innovative Retail Concepts, which operates Bigbasket’s online retail business. With this approval Tata Digital will give exit to investors Alibaba that holds around 29 per cent stake
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