New Delhi, March 15 -- Tata Group has sought Competition Commission of India's approval on its deal to buy a majority stake in BigBasket, indicating that the two enterprises have inked an agreement, as per a report by Reuters.
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.
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 Bigbasket's B2B operations.
In light of Tata Group acqu...