Categories: Business

not purchased any stake in teenager's startup clarifies Ratan Tata


Ratan Tata invest in Pharma startup

new Delhi. Ratan Tata has denied all the news that he has bought a 50 per cent stake in a startup started by a 17-year-old child. Ratan Tata said through tweet that he is very happy to help in this work. He has made a very small token investment in the startup. Ratan Tata made it clear that he has not bought any stake in this startup, 50 per cent.

Ratan Tata, honorary chairman of Tata Sons, has invested in the pharma startup Generic Aadhaar. The startup was launched in April 2019 by 17-year-old Arjun Deshpande, based in Thane, Mumbai. At the moment, it is not clear how much investment Ratan Tata has made, although it is clear from his late evening tweet that the amount has been given as an incentive.

Generic Aadhaar provides medicines to the poor at affordable rates, for which it buys generic medicines directly from the major drug manufacturers, and sells them to retail drug dealers. The company has an annual income of Rs 6 crores which is targeted to be raised from 150 to 200 crores in 3 years.

This post was published on May 9, 2020 1:21 am

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