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Kolkata-based e-pharmacy SastaSundar, which recently secured funding from Japanese pharma company Rohto, is firming up a $100-million national expansion plan.
The expansion plans are likely to play out over the next two-three years, depending on the response the company gets post launch of its offerings in Delhi. So far, Sastasundar operates only in West Bengal (including Kolkata).
Listed on the BSE and NSE, Sastasundar Ventures Ltd owns the portal (e-pharmacy) sastasundar.com through its step-down subsidiary, Sastasundar Healthbuddy Ltd. It also runs the eponymous pharmacy chain.
Rohto has picked up a 13 per cent stake in the step-down subsidiary, Sastasundar Healthbuddy, through its $5-million investment.
According to BL Mittal, Founder & Executive Chairman, SastaSundar will firm up plans in another six months after operations in Delhi stabilise. The company can approach PEs, and other investors in future too.
“For a national expansion, we may require close to $100 million over a two-to-three year period. But national expansion plans will depend on the reaction we get to our Delhi launch,” he said here on Thursday.
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