Reliance Retail buys online drug-selling company Netmeds

 

Mukesh Ambani has made a big deal for his retail business. Reliance Industries Limited (RIL) has reported that its subsidiary Reliance Retail Ventures Limited (RRVL) has acquired a majority share of Digital Pharma Market Place Netmeds. Reliance Industries has invested Rs 620 crore in online pharmacy company Netmeds. Reliance has taken a 60% stake in Vitalik Health and its subsidiary companies, collectively known as NetMeds. Reliance has bought 100 per cent stake in subsidiaries Trisara Health Pvt Ltd, Netmeds Market Place Ltd and Dadha Pharma Distribution Pvt Ltd.

 

Netmeds is an e-pharma portal selling prescription-based and over-the-counter medicines and other health products. Its services are available in around 20,000 locations in the country. Apart from this, the company also does doorstep delivery of medicines. Its promoter is Chennai-based company Dadha Pharma. It has been in operation since 2015. RIL talks about the purchase of urban ladder has been going on for the last several months. Now this conversation has reached the advanced stage. People aware of the matter say that the deal could be worth around $ 30 million. Similarly, after the deal failed with Amazon and BigBasket, Milk Basket and Reliance have come very close. According to the news, Reliance can pay $ 160 million for Jivame while about 30 million for Urban Ladder. The company is also planning to buy a stake in the milk maker Milk Basket. Let us know that Mukesh Ambani has recently raised more than $ 20 billion by selling a stake in Jio platform.

 

RIL is also in talks to buy Kishore Biyani's Future Group's retail business. According to the news, a deal may be announced in both companies soon. The deal is in its last phase. Future Retail Ltd, Future Consumer, Future Lifestyle Fashion, Future Supply Chain and Future Market Network will be merged into Future Enterprises Ltd before Future's retail business goes on sale. Future Group will be owned by Mukesh Ambani.

 

Please tell that e-commerce company Amazon has announced to enter the online pharmacy business. The company has started e-pharmacy service from Bengaluru. At the same time, Flipkart is also planning to enter this business soon. Talks are on with several pharma startups. In such a situation, tremendous competition is going to start.