The Tata group is proposing to acquire a majority stake in online grocery startup BigBasket. Tata Digital Limited, a wholly owned subsidiary of Tata Sons, will be acquiring a 64.3% majority stake, a filing with the Competition Commission of India (CCI) has revealed. The acquisition — which was first reported last month — will position the Tata group as a major player in the burgeoning online grocery market. It will also give Alibaba group a chance to exit its investment in the startup, owing to heightened tensions between India and China over the past several months; in August 2020, the Chinese-based group had reportedly paused investments in India. Per the filing, Tata Digital will acquire up to 64.3% of the total share capital of Supermarket Grocery Supplies Private Limited (SGS), which runs the business-t0-business (B2B) side of BigBasket's operations. Tata Digital may later also acquire full control of Innovative Retail Concepts Private Limited (IRC), which is engaged in business-to-customer (B2C) sales though BigBasket.com. It is not yet clear how much the Tata group will be spending on the acquisition. Last month, ET Now had reported that 68% of the stake would cost the conglomerate Rs 9,500 crore, taking BigBasket's valuation to Rs 13,500 crore. The Tata group's investment into the space are a direct challenge to incumbents such as Grofers, Amazon Fresh, Flipkart and new entrants such as Reliance's JioMart. It will also likely help the group build it's "super app", which it envisions will be a one-stop shop for…
- RTI: Where’s the data on Kisan Drone Yatra? March 27, 2023
- Summary: All you need to know about social media user complaints in January 2023 March 27, 2023
- YouTube pulls the plug on its live commerce venture simsim: Here’s what to know March 27, 2023
- IT Ministry Additional Secretary Given Approval Powers for “Protected Systems” Notifications March 27, 2023
- Video: Exploring User Verification, 23rd Mar, 2023, Delhi #Ad March 27, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Amazon announced that it will integrate its logistics network and SmartCommerce services with the Open Network for Digital Commerce (ONDC).
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection
The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...