Tata-BigBasket Deal. There is a possibility of launching online grocery war in the country soon. The reason for this is another strong competitor coming into this sector and that is the Tata group. Tata group approves purchase of online grocery big basket from Competition Commission of India ( Tata-BigBasket Deal ) Has been found. After which there can be a fierce battle between Reliance, Amazon and Tata. With this purchase, the process of bidding farewell to Indian big companies from Indian companies is starting. Alibaba Group will be discharged from Big Basket. Let us also tell you about this whole deal.
Tata approved to buy 64.3% stake in Big Basket
In fact, Tata Digital, a unit of Tata Sons, had sought permission from the Competition Commission of India to purchase a 64.3% stake in Big Basket. Which has been got by the Commission. The Big Basket will become fully a Tata Group unit as soon as the shares are purchased. The Tata group has finalized a $ 1.2 billion deal to buy a majority stake in Big Basket. Of this, $ 20-25 million can be invested as primary cash infusion. After the completion of this deal, Big Basket also plans to list in the stock market in the year 2022-23.
Chinese Investor’s Holiday
On the other hand, with this deal, Chinese investors will also be shown the way out of the Big Basket. Chinese company Alibaba holds a large stake in Big Basket. Apart from this, many other companies have bought shares. Now the Tata group is buying the entire 27.58% stake in Alibaba. The Tata group will also buy shares of Active LLB, which has an 18.05% partnership in Big Basket. At the same time, some small investors of the company may also decide to exit the company. Tata has decided to buy a stake in Big Basket through primary and secondary share purchases.
The real battle will begin in the Indian grocery market
The real battle in the Indian grocery market will now begin. After the Big Basket becomes the Tata group, it will directly face Reliance Industries and Amazon. Which are already trying to make their place in India’s online grocery market. In fact, many major groups are looking to do in India’s online grocery market, which has been growing rapidly since last year. According to a report by Redsier, the Indian grocery sector has been worth $ 850 billion since January 2021.