Reliance Retail Ventures Limited (RRVL) a subsidiary of Indias leading organisation Reliance Industries Limited (RIL) has acquired a majority equity stake in Vitalic Health Pvt. Ltd. and its subsidiaries (Collectively known as Netmeds) for approximately $93 million.
- This investment represents ~60% holding in the equity share capital of Vitalic and 100% direct equity ownership of its subsidiaries, viz: Tresara Health Private Limited, Netmeds Market Place Limited and Dadha Pharma Distribution Pvt Limited.
- Vitalic was founded in 2015 and are in the business of pharma distribution, sales, and business support services. Its subsidiary also runs an online pharmacy platform Netmeds to connect customers to pharmacists and enable door step delivery of medicines, nutritional health and wellness products.
The major deals and supports by Reliance Industries are featured below:
July 2020: The search engine giant Google LLC announced a binding agreement with Jio Platforms Limited a subsidiary of Reliance Industries, for an investment of approximately $5 billion. Googles investment will translate into a 7.73% equity stake in Jio Platforms on a fully diluted basis.
July 2020: The wireless technologies leader Qualcomm Incorporated announced that its investment arm Qualcomm Ventures to invest approximately $110 million in Jio Platforms a leading digital platform provider in India. Qualcomm Ventures investment will translate into 0.15% equity stake in Jio Platforms on a fully diluted basis.
July 2020: The global energy company bp and Indias Reliance Industries Limited (RIL) announced the start of their new Indian fuels and mobility joint venture, Reliance BP Mobility Limited (RBML). As per earlier agreement bp has paid RIL $1 billion for a 49% stake in the joint venture, with RIL holding 51%.
June 2020: Jio Platforms Limited, a wholly-owned subsidiary of Reliance Industries announced that global alternative asset firm TPG will invest approximately $683 million in Jio Platforms.
June 2020: Reliance Industries subsidiary Jio Platforms announced that Abu Dhabi state fund Mubadala Investment Co. of UAE will purchase around 1.85% stake of Jio Platforms, for approximately $1.21 billion.
May 2020: Jio Platforms Limited had announced that Vista Equity Partners will invest $1.7 billion into the company. Texas based Vistas investment will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis.
May 2020: Jio Platforms announced that Silver Lake will invest approximately $850 million into Jio Platforms. Jio is building a Digital Society for India with various apps and digital ecosystems.
April 2020: Jio Platforms Limited had announced that Facebook will invest approximately $6 billion in Jio Platforms for a 9.99% equity stake of the company on a fully diluted basis.
April 2020: Reliance Industries Ltd. (RIL) had announced that it will enhance its support to the service of the nation 24×7 in a collective fight against Covid-19. The company has already initiated a multi-pronged prevention, mitigation, and ongoing support strategy that is comprehensive, sustainable, and resilient.
March 2020, RIL announced $66 million contribution to Indias PM CARES Fund to fight against Covid-19. The company also supports with medical devices, food delivery for health workers and caregivers. The company announced that its employees are ready for nations service daily.
About Reliance Industries Limited
Reliance Industries Limited, headquartered in Mumbai, India, is a leading multinational company. RILs activities include petroleum refining and marketing, hydrocarbon exploration and production, petrochemicals, retail and digital services. The companys products and services portfolio touches almost all Indians on a daily basis, across economic and social spectrums.