Tata Digital will now buy 64.3 per cent stake in supermarket grocery supply private limited company Big Basket. For this, the deal has been approved by CCI.
Tata Digital and Big Basket deals
In the Corona period, people are avoiding getting out of homes. In such a situation, people are ordering online from fruits, vegetables to ration. These days, they are making a lot of progress in digital grocery. Seeing all this, Tata is now going to enter the supermarket grocery segment. He has made up his mind to buy more than half of the Big Basket. For this, the company has also received approval from the Competition Commission of India (CCI). Soon Tata will own the big basket.
Tata Digital had sought permission from CCE to purchase a 64.3 per cent stake in supermarket grocery supply private limited company Big Basket. CCI has approved the Tata and Big Basket Deals. This is expected to create a new war in the online grocery segment as it is developing rapidly in India.
Tata is investing 9300 crores
With this permission, Tata Digital will take over the 29 per cent stake it holds from Alibaba. Also, other investors like – Erbaz Group which holds 16.3 percent stake and IFC with 4.1 percent shares will also be taken by Tata. Tata has invested around Rs 9,300 crore to acquire a stake in this project. According to sources, the top management, including the co-founder and CEO, will continue with the company and the brand will remain the same.
Apart from grocery, also invested in pharmacy
This is the first time for Tata when they are making their foray into the Indian e-commerce market. She will strengthen her place in the Grassery. Not only this, Tata had also invested in online pharmacy earlier this month.
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