Digital healthcare platform PharmEasy files INR 6,250 cr IPO Papers
Thursday, 11 November 2021, 10:57 IST
API Holding, the digital healthcare platform PharmEasy’s parent company, has filed for an initial public offering (IPO) of up to Rs 6.250 crore.
TPG Growth, Temasek, Prosus Ventures and CDQP are among PharmEasy’s top investors.
PharmEasy is also considering a pre-IPO fundraise. It will reduce the raised amount from the IPO issue size, once the pre-IPO round is complete. PharmEasy has raised over $1.2 billion in debt and equity funding to date. The firm had acquired Thyrocare Technologies, in a bid to diversify its operations. To become the country’s largest online pharmacy and healthcare aggregator, in May 2021, it completed the acquisition of smaller rival Medlife. The company acquired a majority of healthcare supply chain startup Aka Medical in September 2021.
The proceeds will be used for the prepayment of outstanding debt to the tune of Rs 1,929 crore.
Morgan Stanley India Company Private Ltd, Citigroup Global Markets India Private Ltd, Kotak Mahindra Capital Company Ltd, BoFA Securities India Limited and JM Financial Ltd are bankers to the public issue.
PharmEasy was founded in 2015 by Sheth and Shah. to form API Holdings In 2019, it merged with its investor entity, Ascent Health.
In October, the company has already raised $350 million in a fresh equity financing round. It raised $350 million from TPG Growth and Prosus Ventures in April at a valuation of $1.5 billion becoming the first Indian e-pharmacy unicorn.
Based on the gross merchant value (GMV) of products and services sold for the year ended March 31, 2021, API Holdings is India’s largest digital healthcare platform.
TPG Growth, Temasek, Prosus Ventures and CDQP are among PharmEasy’s top investors.
PharmEasy is also considering a pre-IPO fundraise. It will reduce the raised amount from the IPO issue size, once the pre-IPO round is complete. PharmEasy has raised over $1.2 billion in debt and equity funding to date. The firm had acquired Thyrocare Technologies, in a bid to diversify its operations. To become the country’s largest online pharmacy and healthcare aggregator, in May 2021, it completed the acquisition of smaller rival Medlife. The company acquired a majority of healthcare supply chain startup Aka Medical in September 2021.
The proceeds will be used for the prepayment of outstanding debt to the tune of Rs 1,929 crore.
Morgan Stanley India Company Private Ltd, Citigroup Global Markets India Private Ltd, Kotak Mahindra Capital Company Ltd, BoFA Securities India Limited and JM Financial Ltd are bankers to the public issue.
PharmEasy was founded in 2015 by Sheth and Shah. to form API Holdings In 2019, it merged with its investor entity, Ascent Health.
In October, the company has already raised $350 million in a fresh equity financing round. It raised $350 million from TPG Growth and Prosus Ventures in April at a valuation of $1.5 billion becoming the first Indian e-pharmacy unicorn.
Based on the gross merchant value (GMV) of products and services sold for the year ended March 31, 2021, API Holdings is India’s largest digital healthcare platform.
.jpg "Innovating Legal Solutions to Safeguard your Business")
