Go Digit General Insurance invests Rs 30 crore in Dr Reddy’s Laboratories

Go Digit General Insurance has acquired a small stake in pharmaceuticals major Dr Reddy’s Laboratories through a cash infusion of Rs 30.06 crore, the insurance company said in a stock exchange filing today.

Go Digit, which offers general insurance products to consumers, will get a 0.32% stake in the company in lieu of the investment.

Incorporated back in 1984, Dr Reddy's Laboratories Ltd is a pharmaceutical company offering a portfolio of products and services, including Active Pharmaceutical Ingredients (APIs), Custom Pharmaceutical Services (CPS), generics, biosimilars and differentiated formulations.


Go Digit’s investment in a pharma company comes at a time when PB Fintech, which runs insurance marketplace Policybazaar, has set up a subsidiary entity in healthcare services through PB Healthcare.

Dr Reddy’s Laboratories had closed the December quarter of the current financial year with total revenue of Rs 8,358 crore and a net profit of Rs 1,403 crore.

Go Digit General Insurance, which offers motor insurance, travel, health and other such products, ended the December quarter with total revenue of Rs 2,676 crore and a net profit of Rs 118 crore.