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Reliance Industries Limited through its wholly-owned subsidiary Reliance Retail Ventures Limited (RRVL) has acquired a majority stake in Chennai-based Vitalic Health Pvt. Ltd. and its subsidiaries (Netmeds) for approximately ₹620 crores in cash.
Cyril Amarchand Mangaldas acted for Reliance Retail Ventures Limited and the team was led by Partner Shishir Vayttaden.
IndusLaw acted for Netmeds and sellers and the team was led by Senior Partner Kartik Ganapathy along with Partner Divya Varghese, Senior Associate Raghav Muthanna and Associate Mahima Selvakumar.
Khaitan & Co acted as the transaction counsel to Reliance Retail Ventures Limited and assisted in legal due diligence of VHPL, THPL, NML and DPDPL and the team was led by Partner Supratim Chakraborty along with Senior Associates Sumantra Bose and Riya Dutta.
Due diligence assistance was provided by Prithwijit Gangopadhyay (Principal Associate), Vivekanand Bharadwaj (Associate) and Anwesha Sinha (Junior Associate). Intellectual property related assistance was provided by Shailendra Bhandare (Partner), Sourav Dan (Senior Associate) and Rhea Ghanshani (Associate). Employment law related assistance was provided by Anshul Prakash (Partner), Abhimanyu Pal (Senior Associate) and Deeksha Malik (Associate). Real estate related assistance was provided by Amruthavarshini (Senior Associate) and Arjun Narayanan (Associate).