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RIL acquires stake in Netmeds for ₹620 crore
August 19, 2020
RIL stated that its retail unit has acquired a majority fairness stake in online pharma business enterprise Netmeds for round ₹620 crore, directly taking on Amazon which forayed into the e-pharmacy commercial enterprise last week.
The oil-to-retail conglomerate said Reliance Retail Ventures has acquired a majority stake in Vitalic Health Pvt. Ltd and its subsidiaries together called Netmeds for a cash consideration of around ₹620 crore.
This funding represents around 60% retaining in the fairness percentage capital of Vitalic and 100% direct fairness possession of its subsidiaries, viz: Tresara Health Private Ltd, Netmeds Market Place Ltd and Dadha Pharma Distribution Pvt Ltd.
Isha Ambani stated, “This investment is aligned with our dedication to offer virtual access for all of us in India”.
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