Tata Digital acquires over 64 per cent stake in online grocery seller BigBasket
New Delhi | Jagran Business Desk: One of India's biggest conglomerate, the Tata Sons, through its wholly-owned subsidiary, Tata Digital, on Friday, acquired a majority stake (over 64 per cent) in the Alibaba-backed online grocery seller BigBasket (Supermarket Grocery Supplies Private Limited). Tata Digital after the deal said that e-grocery is one of the fastest-growing segments in the consumer e-commerce space.
The deal between the two came at a time when e-grocery growth in India is rising exponentially amid the COVID-19 pandemic and subsequent lockdowns. The deal with BigBasket will bring the Tata Group in direct race with Amazon, Flipkart, JioMart and Grofers, which have been, till now, dominating the e-commerce sector in the country.
Speaking on the deal, Pratik Pal, CEO of Tata Digital "Grocery is one of the largest components of an individual's consumption basket in India, and Bigbasket is 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 current pandemic has further accelerated its adoption as consumers seek the convenience of ordering quality groceries delivered safely at home. In the e-grocery space, BigBasket provides one of the largest assortments with the convenience of home deliveries on preferred dates and timeslots. Besides, it operates a farm-to-fork supply chain with over 12,000 farmers and several collection centres across India", Pratik Pal added.
The Competition Commission of India (CCI) had in April approved Tata Digital's acquiring of 64.3 per cent stakes in Supermarket Grocery Supplies Private (SGS) which runs the online grocery delivery platform BigBasket, which was founded in 2011 in Bengaluru and has expanded its presence to more than 25 cities across India since then.
At present, Tata Group is building a digital consumer ecosystem addressing consumer needs across categories in a unified manner. Accordingly, this acquisition presents an attractive opportunity for Tata Group in its overall vision of creating a digital ecosystem.
(With Agency Inputs)
Posted By: Talibuddin Khan