The Competition Commission of India (CCI) has approved the acquisition by Tata Digital of upto 64.3 percent of Supermarket Grocery Supplies (SGS) and its sole control over Innovative Retail Concepts (IRC), the company that runs the Bigbasket.The proposed combination involves acquisition through a combination of primary and secondary acquisitions in one or more series of steps. As per statement by the Ministry of Corporate Affairs SGS may acquire sole control over IRC through a separate transaction.
BigBasket is currently the leader in the online grocery segment and claims to have crossed one billion dollar annual revenue run rate. Tata Digital is engaged in the business of providing technology services related to identity and access management, loyalty programme, offers and payments. SGS is engaged in online B2B sales of relevant products through business.bigbasket.com. IRC is engaged in online B2C sales of relevant products and operates the website www.bigbasket.com and related mobile applications.
