Tata’s acquisition of BigBasket gets nod from the Competition Commission of India (CCI)
Tata Group is looking to acquire a 64.3% stake in the grocery delivery startup
CCI said that the deal “will not lead to any change in the competitive landscape”
The acquisition will be carried out through Tata Group’s digital arm Tata Digital
Though the exact value of the transaction is undisclosed, market estimates peg it at $1.8-2 Bn
This means existing investors in BigBasket, including Alibaba, will exit the firm
As per reports, Tata group is expected to buy out Alibaba’s 30% stake in BigBasket
BigBasket has raised about $1.1 Bn to date through equity rounds as well as debt funding
