Tata Sons, through its wholly owned subsidiary Tata Digital, has acquired a majority stake in India’s largest online grocery retailer BigBasket (Supermarket Grocery Supplies Private Limited).
While Tata Digital has announced the acquisition in a statement, financial details of the deal have not been disclosed yet.
Tata Digital CEO Pratik Pal said: “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.”
The Competition Commission of India had approved Tata Digital’s offer of acquiring up to 64.3 per cent stake in Supermarket Grocery Supplies Private (SGS), which runs BigBasket, in April.
Founded in 2011, Bengaluru-headquartered BigBasket has presence in over 25 cities across India and serves customers via 50,000+ SKUs.