Companies acquired by Reliance group of companies in 2022
Reliance Industries Limited is an Indian multinational conglomerate company gathered in Mumbai.
The company’s operations span exploration and production of oil and gas, refining and marketing, petrochemicals, retail, and telecommunications.
In 2020, the company made a series of acquisitions in the telecom, retail, and tech sectors. Here’s a look at some of the most notable acquisitions made by Reliance this year.
On September 5, 2020, Reliance Industries Ltd (RIL) announced that it has acquired a majority stake in Netmeds Marketplace Pvt Ltd, an online pharmacy, for Rs 620 crore. This is RIL’s second major investment in the healthcare sector this year, coming just months after the company’s acquisition of a controlling stake in pharmacies chain Guardian Pharmacies.
1. Reliance Industries has acquired a majority stake in Netmeds, an online pharmacy, for Rs 620 crore.
2. Reliance Industries has acquired a controlling stake in urban Ladder, an online furniture company, for Rs 317 crore
3. Reliance Industries has acquired a majority stake in Vaktia, a UK-based energy tech startup, for Rs 100 crore.
4. Reliance Industries has acquired a controlling stake in AI-based healthcare startup Cigna TTK for Rs 3,460 crore.
5. Reliance Industries has acquired a 51% stake in Balaji Telefilms for Rs 4,000 crore.
In March 2020, Reliance acquired a majority stake in online grocery delivery startup Grofers for $450 million. The deal gave Reliance a 63% stake in Grofers and valued the startup at $695 million. With this acquisition, Reliance hoped to tap into the growing online grocery market in India.
In May 2020, Reliance acquired a majority stake in education technology startup Embibe for $185 million. The deal valued Embibe at $650 million. With this acquisition, Reliance plans to make online learning more accessible to students across India.
In August 2020, Reliance acquired a controlling stake in Netmeds for $83 million. The deal valued Netmeds at $500 million. With this acquisition, Reliance plans to enter the online pharmacy space and make prescription drugs more accessible to consumers across India.
With this acquisition, RIL will be able to tap into the growing online pharmacy market in India which is currently valued at Rs 11,000 crore and is expected to grow to Rs 56,000 crore by 2023. RIL’s investment will give Netmeds a much-needed boost as the latter looks to expand its reach and consolidate its position in the market.
The online pharmacy market in India is currently dominated by players like 1mg, PharmEasy, and Medlife.
However, with its deep pockets and large distribution network, RIL is well-positioned to make a big splash in this space. The company already has a significant presence in the offline pharmacy market through its Guardian Pharmacies chain. With this latest acquisition, RIL will be able to offer customers a comprehensive portfolio of products and services across both offline and online channels.
In addition to expanding its reach, RIL’s investment will also help Netmeds to strengthen its back-end infrastructure and expand its product offerings.
Netmeds currently offers over 30 lakh products from over 10,000 brands on its platform. With RIL’s backing, the company will be able to further increase its product catalogue and offer more value-added services to customers.
Reliance has been on an acquisition spree in 2020, with the aim of tapping into various growth markets in India.
The company has acquired stakes in online grocery delivery, education technology, and online pharmacy startups.
With these acquisitions, Reliance is looking to make life easier for consumers and expand its reach in India.
This latest acquisition is yet another example of RIL’s ambition to become a one-stop shop for all of your healthcare needs. The company is already making big strides in the healthcare sector with its recent investments in pharmacies chain Guardian Pharmacies and online pharmacy Netmeds. With RIL’s deep pockets and large distribution network, there is no doubt that it will be a major force to reckon with in the healthcare space going forward.