Tata-BigBasket deal to intensify competition in online grocery space

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Tata-bigbasket deal to intensify competition in online grocery space

29 Apr 2021

1 min read

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

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Tata-BigBasket deal to intensify competition in online grocery space | PraxisGA