PharmEasy parent API Holdings Files for IPO of Rs 6250 cr | PharmEasy will also be listed on the stock market, API Holdings has submitted documents for an initial public offering of Rs 6,250 crore


PharmEasy parent API Holdings archives documents for Rs 6250 cr IPO

New Delhi. API Holdings, the parent company of e-commerce pharmacy platform PharmEasy, has submitted documents to capital markets regulator SEBI to raise Rs 6.250 crore through the initial sale of shares. According to Draft Red Herring Prospects (DRHP), the amount will be raised by issuing new equity shares.

The company can conduct a private placement of shares worth Rs 1,250 million. If there is a pre-IPO placement, the size of the problem will be reduced. The company has used the proceeds from the IPO to pay off outstanding debt of Rs 1929 crore, to fund an organic growth plan of Rs 1259 crore, for inorganic growth and general corporate spending through acquisitions of Rs 1500 crore and other strategic initiatives. do.

API Holdings is a leading digital healthcare platform. Its investors include Prosus Ventures (formerly Naspers Ventures), TPG Growth, Temasek, CDPQ, LGT LightRock, Eight Rhodes and Think Investments.

Citigroup Global Markets India, JM Financial Ltd., Kotak Mahindra Capital, Morgan Stanley India and BofA Securities India have been appointed as lead bookkeepers for the issue.

In June this year, PharmEasy, which is in charge of drug deliveries, announced that it would acquire a majority stake in the diagnostic chain Thyrocare for 4,546 million rupees.

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