Reliance Retail buys 60% of NetMeds parent Vitalic Health for ₹620 crore
Reliance Retail acquired a 60% equity stake in NetMeds parent Vitalic Health for ₹620 crore, marking its entry into e-pharmacy to challenge Amazon and PharmEasy. It plans to raise ownership to 100% by 2024 amid regulatory uncertainty, despite NetMeds posting an FY20 net loss of ₹164.15 crore.
Reliance Retail acquired a 60% stake in NetMeds parent Vitalic Health for ₹620 crore, entering e-pharmacy to rival Amazon, with plans to raise ownership to 100% by 2024 amid regulatory uncertainty.
Why this matters
The ₹620 crore Vitalic Health deal extends Reliance Retail's aggressive digital-commerce push, taking on Amazon and PharmEasy in the fast-growing e-pharmacy space despite NetMeds' FY20 losses.
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