Reliance Industries Limited announced that its subsidiary Reliance Retail Ventures Limited (RRVL) has acquired a majority equity stake in Vitalic Health Pvt. Ltd. (Vitalic) and its subsidiaries (Collectively known as ‘Netmeds’) for a cash consideration of approximately Rs 620 crores. This investment represents ~60% holding in the equity share capital of Vitalic and 100% direct…
In an attempt to strengthen its ecommerce footprint, Indian multinational conglomerate Reliance Industries Limited is reportedly in advanced talks to acquire a majority stake in Epharmacy startup Netmeds. According to a Times Of India report, Reliance, through one of its subsidiaries, may pay about $150mn for the assets including fresh capital infusion in the ten-year-old…
Mukesh Ambani’s Reliance Industries is in advanced discussions to acquire a majority stake in online pharmacy Netmeds as part of its broader play in commerce, said three sources familiar with the development to the TOI. Netmeds is a fully licensed e-pharma portal that offers authenticated prescription and Over the Counter (OTC) medicine along with other…