Insurance provider Go Digit has acquired a 0.32% stake in Dr. Reddy’s Laboratories for 30 crore rupees (US$3.4 million).

The transaction was confirmed in a regulatory filing and is part of the company’s standard investment activities.

Dr. Reddy’s Laboratories, founded in 1984, is a pharmaceutical company that offers active pharmaceutical ingredients (APIs), generics, biosimilars, and custom pharmaceutical services.

Go Digit, established in 2017, is a digital insurance provider offering non-life insurance policies across sectors including health, motor vehicle, travel, and property.