Tata Group eyes majority stake in e-pharmacy 1mg
Tata Group is exploring the option of buying a majority stake in e-pharmacy 1mg.
The Tata Group has begun talks for the deal with the Sequoia Capital-backed company, according to a report by The Economic Times.
"The talks have been ongoing as Tatas look to build their super-app platform. The Tata group's strategy is to pick up controlling stake but keep the management to run the operation...," a source told the publication.
The Sequoia Capital-backed 1mg has been in talks to raise around $100 million, but the funding may not come through, said another person familiar with the matter.