Acquisition · Commerce & Consumer Brands

Tata Digital gets CCI nod to buy majority stake in BigBasket

By Startup Enthusiast · 29 April 2021

What they do

BigBasket runs an online grocery marketplace and BB Daily for essentials

Tata Digital will acquire up to 64.3% stake for over $1 billion; Alibaba exits

The deal comes as JioMart records higher daily orders than BigBasket and Grofers combined

The Competition Commission of India (CCI) approved Tata Digital's acquisition of a majority stake in BigBasket.
Tata Digital will buy up to 64.3% of the total share capital of Supermarket Grocery Supplies Private Ltd (SGS).
The deal includes both primary shares (new shares issued by the company) and secondary shares (existing shareholders selling their shares).
Media reports value the deal at over $1 billion, though the CCI did not disclose the exact amount.
Alibaba, which held a 27.58% stake in BigBasket, is exiting as part of this transaction.
Tata Digital filed the application with the CCI in March 2021.

BigBasket faces intense competition from JioMart, which records about 1 million daily orders.
BigBasket's daily orders are 2 lakh (excluding BB Daily), while competitor Grofers has 1 lakh daily orders.
JioMart has been recording more traction and daily orders than BigBasket and Grofers combined for the past 8-10 months.
Reliance is in late-stage talks to acquire MilkBasket for $40 million, further intensifying the online grocery race.

BigBasket is an online grocery marketplace operating through the B2C portal bigbasket.com, run by Innovative Retail Concepts Private Limited (IRC).
It also runs BB Daily for daily essentials and milk delivery.
BigBasket processes about 2 lakh daily orders (excluding BB Daily).