Flipkart Will Buy Majority Stake In SastaSundar Marketplace

Flipkart will buy a majority stake in SastaSundar Marketplace. Flipkart is going to keep its step in online health services, the company will buy the stake of online pharmacy company SastaSundar.

Walmart-owned Flipkart has made this information available in a statement on Friday that it will buy a majority stake in Kolkata-based SastaSundar Marketplace.

SastaSundar Company owns and operates online pharmacy and digital healthcare platform SastaSundar.com. As of now, there is no clarity on the size of the deal.

The Flipkart company is entering the healthcare sector through its Flipkart Health platform.

In a statement on behalf of the company, it was stated that “To enter the healthcare sector, the Flipkart Group has signed definitive agreements to acquire a majority stake in SastaSundar Marketplace, an online pharmacy, and digital healthcare platform.

SastaSundar.com offers a digital healthcare and pharmacy platform supported by a network of over 490 pharmacies.

The company is backed by Japanese investors, Mitsubishi Corporation, and Rohto Pharmaceuticals.

Flipkart Health will leverage the combined strengths of the Flipkart Group, including its pan-India reach and technology capabilities.

SastaSundar.com has deep expertise in healthcare, providing end-to-end products to consumers across the health-tech ecosystem.

Flipkart Health will endeavor to provide quality and affordable healthcare to millions of Indian consumers starting with e-pharmacy and will add new healthcare services like e-diagnostics and e-consultation over time.

Ravi Iyer, Senior Vice President, and Head-Corporate Development, Flipkart, said in a statement that, the consumer internet ecosystem in India is growing rapidly as consumers are able to identify the features that, digital adoption can offer to them.

With increasing awareness and increased focus on health from the pandemic, a huge opportunity and demand have arisen for affordable healthcare.

EPFO subscribers increased, 15.41 lakh new enrollments took place in September.

Retirement fund body EPFO ​​added 15.41 lakh subscribers under it in September 2021, reflecting a rising trend in net payrolls after the second wave of the pandemic.

In a statement issued on Saturday, EPFO ​​said, “The provisional payroll data of EPFO ​​as on Saturday shows that the institution has added about 15.41 lakh net subscribers in the month of September 2021.”

If compared with the month of August, then this number has increased by 1.81 lakh or more than 13 percent. In August, the number of subscribers covered under EPFO ​​was 13.60 lakh.

In the month of April, the number of subscribers under EPFO ​​was 8,06,765, which came down to 5,62,216 in May.