Tata Digital, a Tata Sons Private Limited subsidiary, has finally bought a majority stake in the online grocery firm, BigBasket. There has been a lot of speculations regarding the acquisition inthe past few months. In March, the Competition Commission of India (CCI), India's antitrust body, approved the Tata-BigBasket deal, where the Indian conglomerate has bought a 64.3% stake in the online grocery for Rs9,500 crore, according to media reports.
With this acquisition, the Tata group aims to launch a "Super App," which will combine all the products and services sold by the conglomerate in the country. The launch of the Super App has been delayed due to the pandemic. But this acquisition is undoubtedly a big step towards competing with Flipkart and Amazon. E-grocery has been one of the fastest-growing segments in the consumer e-commerce space in India. Founded in 2011, BigBasket operates in 25 Indian cities. It has emerged as one of the popular online grocery platforms in the country in recent years.
"Grocery is one of the largest components of an individual's consumption basket in India, and BigBasket as India's largest e-grocery player, fits in perfectly with our vision of creating a large consumer digital ecosystem. We are delighted to welcome BigBasket as a part of the Tata Digital," saidPratik Pal, chief executive officer of Tata Digital.
While the CEO of BigBasket, HariMenon, said: "We are extremely excited about our future as a part of Tata Group. As a part of the Tata Ecosystem, we would be able to build stronger consumer connect and accelerate our journey."
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