NetMeds Raising INR 250 Cr Convertible Debt From Parent Company Tresara

NetMeds Raising INR 250 Cr Convertible Debt From Parent Company Tresara

SUMMARY

Funds will be used to maintain the smooth functioning of operations and fuel scale.

NetMeds plans to open 12 fulfillment centres by 2020.

Earlier, NetMeds got Rs 86 crore between December 2018 and July 2019

NetMeds, an online medicine selling company is in talks to raise approximately INR 250 Cr convertible debt from its parent company Tresara Health Pvt. Ltd. According to RoC filings with the Ministry of Corporate Affairs (MCA), the funds would be used to maintain the smooth functioning of operations and expand the business.

The online medical store, between December 2018 and July 2019, had reportedly raised equity funding worth INR 86 Cr from Teresa Health. NetMeds also raised an investment of approx 250 crores from Daun Penh Cambodia Group in September last year. 

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