Friday, 24 March, 2023

Reliance acquires majority stake in digital pharma marketplace Netmeds

<p>RIL&rsquo;s subsidiary Reliance Retail Ventures Limited (RRVL) has acquired a majority equity stake in online pharmacy Netmeds for about 6.2B INR ($83.08M) in cash. RRVL holds 60% stake in Vital Health Pvt Ltd. and 100% direct ownership of its subsidiaries (collectively known as Netmeds). Reliance has lately been planning to bolster its presence in the e-commerce biz and this acquisition is another step of incorporating daily need products and services for customers.</p>