Mukesh Ambani is entering the $150 billion market, this is the complete plan - Newztezz Online

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Monday, May 13, 2024

Mukesh Ambani is entering the $150 billion market, this is the complete plan

According to the information, Mukesh Ambani's Reliance Retail Ventures is planning to buy majority stake worth Rs 1,000 to Rs 3,000 crore in the diagnostic service company. Reliance Retail Ventures already includes online pharmacy Netmeds in its portfolio. This company provides pathology services.

Asia's richest businessman Mukesh Ambani is soon going to enter the $150 billion market. For this he has made a lot of preparations. If experts are to be believed, after making a splash in the telecom and retail sectors, Mukesh Ambani is going to try his hand in the diagnostic healthcare segment. This segment will be led by none other than Reliance Retail Ventures. The company has made a complete plan for this. According to the information, Mukesh Ambani's Reliance Retail Ventures is planning to buy majority stake worth Rs 1,000 to Rs 3,000 crore in the diagnostic service company. Reliance Retail Ventures already includes online pharmacy Netmeds in its portfolio. This company provides pathology services. The company has also made deals with many companies like Thyrocare for this.

This is Mukesh Ambani's plan

In the media report, quoting sources, it has been said that Reliance Retail is planning to set up its own diagnostic company. The company plans to have a network of this diagnostic company in the entire country. According to the report, Reliance Retail Ventures is working on many options. There is also news that a deal can be made on this in the medium term. No comment has come from Reliance on this yet.

Reliance Retail had acquired majority stake in Netmeds in the year 2020. Reliance had done this deal for Rs 620 crore. The first offline store was opened by the company about one and a half years ago in January. At present there are more than 1000 stores across the country. At present, Reliance Retail is the largest retail company in the country. Last financial year the company's revenue had crossed Rs 3 lakh crore.

Why does Mukesh Ambani want to enter?

Mukesh Ambani does not want to enter this segment just like that. Its business is said to be worth 150 billion dollars. According to a note by MK Research, the share of the top four companies in this segment is only 6 percent. The rest are under threat from regional players. Seeing this threat, Mukesh Ambani's eyes are shining. If we talk about the last 3 years, many big acquisitions have been seen in the diagnostic sector. In the Covid era, Dr. Lal Path Lab had taken the share of Suburban Diagnostic. PharmEasy had acquired majority stake in Thyrocare. Whose value was Rs 4,546 crore. Metropolis had also acquired Hi-Tech Diagnostic Center for Rs 636 crore.

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