Reliance Retail Ventures, the retail arm of Reliance Industries Limited, announced on Tuesday that it has acquired a majority equity stake in online pharma company Netmeds, through purchase in the parent share Vitalic Health Private Limited, for around Rs 620 crore (USD 82.6 million). The investment represents around 60 per cent holding in the equity share capital of Vitalic and 100 per cent direct equity ownership of its subsidiaries, Tresara Health Private Ltd, Netmeds Market Place Ltd and Dadha Pharma Distribution Pvt Ltd. Tanncam Investment Co. Ltd. ‘s shares were purchased by Reliance Retail Ventures as a result of the acquisition.
Is a Cambodian based venture capital and private equity firm that focuses on early-stage start-ups and strategic investment opportunities.
Is a Chennai-based company, dating back to 1914, in the business of pharma distribution and sales as well as in business support services. Its subsidiary, Netmeds, runs an online pharmacy platform to connect customers to pharmacists and enable doorstep delivery of medicines, nutritional health, and wellness products.
Is a subsidiary of Reliance Industries Limited and has emerged as one of the fastest-growing retailers in the world and features among the top 100 retailers globally. The dimensions of the business span across 11,784 physical retail stores across 7,000+ towns and cities, direct to consumer, digital commerce channels, and B2B channels, serving millions of Indian consumers across underserved markets.
#14, Street 106, Sangkat Voat Phnom, Khan Daun Penh, Phnom Penh, Kingdom of Cambodia.
No.68 Circular Road, #02-01, Singapore 049422.
Lot A020, Level 1, Podium Level, Financial Park, Jalan Merdeka, 87000 Labuan F.T. Malaysia.