Tata Sons, the salt-to-software giant seeks its eye on expansion into the ecommerce segment. Tata Digital, the digital subsidiary of Tata Sons is all set to buy Big Basket, the largest online grocery retailer in India. The deal is expected to be valued at a high stake of over $1billion as per a filing with the Competition Commission of India (CCI.)
In a board meeting held last week by Tata Sons, this deal was finalized and the approval of CCI was asked for. The deal says that Tatas are going to have a stake of 64.3% of the total capital share of Supermarket Grocery Supplies Pvt. Ltd (SGS), which sells products to commercial units through business.bigbasket.com in the first step. Over the time, SGS will gain the full stake of Innovative Retail Concepts Pvt. Ltd (IRC), which sells products to customers through bigbasket.com.
This acquisition is a strategic decision by Tata in building their Super App in which they are adding Big Basket’s wide range of products- grocery and household items.
Even in the online consumer space, the Tatas are in talks with Just Dial for a list of partnerships ahead. These talks are in the initial stages of discussion for a strategic alliance or to hold a stake. This will give a boost to the local search engine listing and will scale up their hold in the online space.
Both of these deals, along with the online pharma portal 1mg, are meant to make the Super App by Tata more inclusive of categories like groceries, fashion, electronics, lifestyle and beauty, travel, health, education and entertainment.
13-03-2021
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