India: CCI okays Tata Group's acquisition of online grocery platform BigBasket

India: CCI okays Tata Group's acquisition of online grocery platform BigBasket

An employee weighs tomatoes after packing them at a BigBasket warehouse on the outskirts of Mumbai November 4, 2014. REUTERS/Danish Siddiqui/Files

The Competition Commission of India (CCI) has approved acquisition by Tata Digital Limited of up to 64.3% 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.