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Reliance acquires Majority Stake in Netmeds for $83 Million

19Aug By PriyankaNo Comments

ACQUISITION

Reliance acquires Majority Stake in Netmeds for $83 Million

Mumbai, 19th Aug 2020: India's leading oil & telecom company Reliance has acquired a majority equity stake in online pharmacy platform Netmeds for a cash consideration of around $83 million (Rs 620 crore). This investment represents around 60 percent holding in the equity share capital of Vitalic and 100 percent direct equity ownership of its subsidiaries Tresara Health Private Limited, Netmeds Market Place Limited, and Dadha Pharma Distribution Pvt Limited, the press statement said. Vitalic Health and its subsidiaries are collectively known as 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 serv...

All You Need To Know About Mukesh Ambani’s Future Son-in-Law

8May By Sheldan RungasamyNo Comments

Entrepreneurs Talk

All You Need To Know About Mukesh Ambani’s Future Son-in-Law

Anand Piramal, a 33 year old Masters graduate from the Business School of Harvard is set to become Mukesh Ambani’s (India’s richest person) son-in-law after dropping the knee and subsequently the question to Isha Ambani, the Chairman of Reliance Industries’ only daughter. However, while everybody knows who Mukesh Ambani and Isha Ambani is, everyone wonders "Who is Anand Piramal?" Who is Anand Piramal? Anand Piramal is not the everyday son of a rich millionaire that displays his wealth on Instagram. After all, his father owns a net worth of $4.6 billion and is India's 22nd billionaire, therefore he could. Instead, Anand is a sharp and smart businessperson who makes strategic decisions with his soft-spoken and sweet personality with dreams of changing India’s society for the bet...

Mukesh Ambani’s Daughter To Marry Business Tycoon Soon

7May By Sheldan RungasamyNo Comments

News

Mukesh Ambani’s Daughter To Marry Business Tycoon Soon

Isha Ambani, daughter of India’s richest person, Mukesh Ambani and Nita Ambani, is set to marry Anand Piramal, son of Ajay Piramal and Swati Piramal, in India this year. Anand and Isha have been long-time friends and the former dropped the knee over the weekend at a temple in Mahabaleshwar. Once the proposal accepted, the couple celebrated the joyful news with their parents and other family members, including Isha’s brothers Akash and Anant. Anand, founder of Piramal Realty, one of India’s most successful real-estate companies is also an acclaimed businessman. In 2012, when the real estate business was crashing down. Anand Piramal founded Piramal Realty and raised about Rs 2,700 crore from famous global funding corporations Goldman Sachs and Warburg Pincus. The company grew very ...

Mukesh Ambani Launches Free Jio Phone At Reliance AGM

21Jul By RishabhNo Comments

News

Mukesh Ambani Launches Free Jio Phone At Reliance AGM

The much awaited Reliance Jio phone was launched by Akash Ambani and Isha Ambani, Mukuesh Ambani's son and daughter at the Annual Grand Meeting this morning. The Jio Phone will help achieve PM Modi's dream of 'Made In India' said Akash at the AGM. The phone will support 22 languages, and will be available nation wide for effectively 0 price. The user however will have to pay Rs 1500 as security deposit which they will get back after 36 months of purchase. The phone comes with basic features such as Phone logs, contacts, headphone jack, torch,FM Radio, SD Card slot, Bluetooth Connectivity and with Alphanumeric Keypad. The JioPhone has been tipped to come with a 4GB of internal storage, and 512MB of RAM. The mobile will have the ability to install and run apps, including Jio’s own...