Reliance buys majority stake in Netmeds: 5 things you should know about it

Reliance Industries Ltd has announced that it bought a majority stake in online pharmacy Netmeds for ₹620 crore. The deal gives Reliance Industries a 60% stake in Netmeds.

“This investment is aligned with our commitment to provide digital access for everyone in India. The addition of Netmeds enhances Reliance Retail’s ability to provide good quality and affordable health care products and services, and also broadens its digital commerce proposition to include most daily essential needs of consumers,” Isha Ambani, Director, RRVL said in a statement.

Here are five things you should know about this deal:

— Reliance Retail, which is a subsidiary of Reliance Industries Limited has acquired a majority stake in Netmeds.