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Tata Super App | Launch delayed as CCI approval pending for BigBasket deal: Report

The Tata-BigBasket deal is awaiting the approval of the Competition Commission of India (CCI).

March 05, 2021 / 09:30 AM IST
Source: Reuters

Source: Reuters

The launch of Tata Digital's SuperApp has been postponed again due to pending regulatory approval of the acquisition of e-grocer BigBasket.

The app was expected to be launched on March 3, the Tata Group's Founders Day, but has been delayed, The Economic Times reported. The salt-to-steel conglomerate had initially planned to launch the app in late 2020.

"We expected the CCI approval to come in sooner, but technically it is not an unusual delay. Bigger deals usually take a month for requisite approvals," a source told the publication.

Also read: Tata Group to buy 68% stake in BigBasket for over Rs 9,000 crore

The Tata-BigBasket deal is awaiting the approval of the Competition Commission of India (CCI). The Tata group has also applied to the National Company Law Tribunal (NCLT) for a green signal on the transaction, the report said.

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Moneycontrol could not independently verify the story.

Tata Sons had not yet responded when contacted by The Economic Times.

Tata group will buy 68 percent stake in BigBasket for Rs 9,100-Rs 9,200 crore, CNBC-TV18 reported on February 16.

The "Super App" will bring all of the conglomerate services and products in the consumer business under a single umbrella.

"The integration of internal businesses structures and management into Tata Digital which is a new entity has its own challenges," an official told The Economic Times.

"But we are hoping to roll out the official plan soon," another official said.
Moneycontrol News
first published: Mar 5, 2021 09:30 am

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