Reliance in talks to take majority stake in e-pharmacy Netmeds

Reliance Industries is in advanced discussions to acquire a majority stake in online pharmacy Netmeds as part of its broader play in commerce The deal may see Reliance, through one of its subsidiaries, pay $130-150 million for the asset, which may also include a fresh infusion to expand the operations The conversations between Reliance and Netmeds, which had also held talks with Walmart-owned Flipkart, had been going on before the coronavirus lockdown, sources said.

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