Reliance Retail acquires majority stake in Netmeds for ₹620 crore.

Mukesh Ambani-led Reliance Industries' subsidiary Reliance Retail Ventures has acquired a majority equity stake in Vitalic Health and its subsidiaries (collectively called Netmeds) for ₹620 crore in cash. This investment represents 60% holding in Vitalic's equity share capital and 100% direct equity ownership of its subsidiaries. Chennai-based e-pharmacy startup Netmeds was founded in 2015.