The Competition Commission of India (CCI) has approved acquisition by Tata Digital Limited of up to 64.3% of the total share capital of Big Basket owner Supermarket Grocery Supplies Private Ltd (SGS) and SGS' sole control over Innovative Retail Concepts Private Limited.

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The proposed combination involved the acquisition by Tata Digital Limited (TDL) of up to 64.3% 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 (Transaction 1).

Subsequently, through a separate transaction, SGS may acquire sole control over Innovative Retail Concepts Private Limited (IRC) (Transaction 2). Transaction 1 and Transaction 2 are collectively referred to as the Proposed Combination. The Proposed Combination will result in the acquisition by TDL of a majority stake of and control over SGS, said a statement.

TDL, wholly owned subsidiary of Tata Sons, is engaged in the business of providing technology services related to identity & access management, loyalty program, offers and payments. SGS is engaged in online B2B sales through Bigbasket.

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