Tata Digital infuses Rs 100 cr debt in online medicine startup 1mg: Report

The move ahead of the Gurugram-based firm's acquisition by the Tata Sons arm

Tata Sons’ digital services subsidiary Tata Digital has infused debt money in online medicine startup 1mg. Tata Digital is in the final stages to acquire a controlling stake in the Gurugram-based company. As per regulatory filings, Tata Digital is picking up Rs 100 crore worth compulsorily convertible debentures or CCDs in 1mg, according to Entrackr, a platform that tracks tech companies.

1mg has allotted 29,054 CCDs at a price of Rs 34,417.87 per debenture to raise the sum. The firm has already received Rs 25 crore while the remaining Rs 75 crore will be infused at a later stage. The Entrackr