Reliance Retail acquires majority stake in online pharmacy Netmeds

Reliance Retail Ventures Ltd has acquired a majority equity stake in Netmeds for a cash consideration of around Rs 620 cr. This investment represents around 60% holding in the equity share capital of Vitalic and 100% direct equity ownership of its subsidiaries - Tresara Health Private Limited, Netmeds Market Place Limited and Dadha Pharma Distribution Pvt Limited.

"This investment is aligned with our commitment to provide digital access to everyone in India. The addition of Netmeds enhances Reliance Retail's ability to provide good quality and affordable healthcare products and services, and also broadens its digital commerce proposition to include most daily essential needs of consumers," Reliance Retail Ventures Limited (RRVL) director Isha Ambani said.

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