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Tata eye 1MG stake for e-pharma business
November 06, 2020
Tata Group is now eyeing the online pharmacy space and is in discussions to shop for a big stake in Gurgaon-primarily based 1MG, stated 3 assets familiar with the matter. You can look for online chemists near me to consult the best chemist to stay healthy and get quality treatments.The improvement comes as 1MG is likewise in talks to elevate $a hundred million in investment from a personal fairness consortium led with the aid of Gaja Capital, which become first reported by TOI in September. Both the funding talks are going on in parallel.
The development comes even as the Tatas are also in superior discussions to buy near 50% in e-grocer Bigbasket. Tata’s funding in 1MG remains now not finalized, but this indicates the developing interest of large strategic gamers on this phase.
Reliance’s retail arm picked up a 60% stake in Netmeds, at the same time as Amazon India and Flipkart have additionally recently entered the distance. PharmEasy too is merging with smaller rival Medlife. This blended entity is in talks to raise new capital to war the bigger conglomerates.
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