Tata Group is scanning 1MG stake for e-pharma biz

Tata group is now scanning the online pharmacy space and is in discussions to buy a huge stake in Gurgaon based 1MG, which is in rumor. The development comes even as the Tatas are also in ahead discussions to buy near to 50% in the e-grocer Big basket. Tata investment in 1MG is still not complete, but this indicates the increasing interest of large strategic players in the segment. The combined entity is in talks to raise new funds to battle the bigger conglomerates.