Business News: The Tata group is now eyeing the online pharma business. If sources are to be believed, the Tata group is in talks to buy a stake from Gurgaon-based e-pharma company 1 MG.
First of all, this news was given by the Times of India that negotiations are going on between the two companies for investment. Meanwhile, the Tata group is also in talks to buy a 50% stake in e-grocery company BigBasket.
At the same time, Tata’s investment in 1 MG has not been finalized yet, but it shows the interest of big companies in this segment.
Reliance’s retail company has bought 60% stake in Netmeds, while Amazon India and Flipkart have also recently entered the business.
PharmEasy is also merging with Medlife. The company formed after the merger is in talks to raise new capital to compete with larger companies.
According to one source, ‘There is no doubt that Tata Group is showing great interest in 1 MG. There have been talks between the two companies.
Also, 1 MG is in talks with Gaja to raise $100 million fund.
According to sources, the company can raise more than $ 100 million capital in this round by Tata’s entry into the field.
Source: Times of India