Go Digit General Insurance invests Rs 30 crore in Dr Reddy’s Laboratories, ET BFSI
Go Digit General Insurance has acquired a small stake in pharmaceuticals main Dr Reddy’s Laboratories by means of a cash infusion of Rs 30.06 crore, the insurance coverage firm mentioned in a inventory alternate submitting right this moment.
Go Digit, which presents common insurance coverage merchandise to customers, will get a 0.32% stake within the firm in lieu of the investment.
Integrated again in 1984, Dr Reddy’s Laboratories Ltd is a pharmaceutical firm providing a portfolio of services and products, together with Energetic Pharmaceutical Elements (APIs), Customized Pharmaceutical Companies (CPS), generics, biosimilars and differentiated formulations.
Go Digit’s funding in a pharma firm comes at a time when PB Fintech, which runs insurance coverage market Policybazaar, has arrange a subsidiary entity in healthcare services through PB Healthcare.
Dr Reddy’s Laboratories had closed the December quarter of the current financial year with complete income of Rs 8,358 crore and a web revenue of Rs 1,403 crore.
Go Digit Common Insurance coverage, which presents motor insurance coverage, journey, well being and different such merchandise, ended the December quarter with total revenue of Rs 2,676 crore and a web revenue of Rs 118 crore.
