The Competition Commission of India (CCI) has approved the acquisition by Tata Digital Limited of up to 64.3 percent of the total share capital of Supermarket Grocery Supplies Private Ltd (SGS) and its sole control over Innovative Retail Concepts (IRC), the company that runs BigBasket.

The Ministry of Corporate Affairs said in a statement said, the proposed combination involves acquisition through a combination of primary and secondary acquisitions in one or more series of steps. Through a separate transaction, SGS may acquire sole control over IRC.

The proposed combination involves acquisition by Tata Digital Limited (TDL) of up to 64.3 per cent of the total share capital of SGS (on a fully diluted basis) through a combination of primary and secondary acquisitions, in one or more series of steps.

Subsequently, through a separate transaction, SGS may acquire sole control over Innovative Retail Concepts Private Limited (IRC). The proposed combination will result in the acquisition by TDL of majority stake of and control over SGS.

Tata Digital Ltd (TDL) is a wholly-owned subsidiary of Tata Sons Pvt Ltd, which is the ultimate holding company of the entities belonging to the Tata Sons group. At present, TDL is engaged in the business of providing technology services related to identity and access management, loyalty program, offers and payments.

Founded in 2011, BigBasket operates in 25 Indian cities. It competes with SoftBank-backed Grofers as well as Amazon India and Flipkart.

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