Does Pharmeasy plans IPO?

Opinions

Ella Jones, Deputy Editor In Chief

Date: 04.06.2021

API Holdings, the parent entity of online pharmacy chain Pharmeasy, has begun exploratory talks for a potential public market listing. The initial public offering is likely to value the company at around Rs 21,800 crore ($3 billion), the people said.

Last week investment banks pitched for the IPO mandate of the Mumbai-based company, one person said. Investors are eyeing a listing towards the end of this year or early next year, the person added.
Investment firms such as TPG Growth, Prosus Ventures, Temasek, CDPQ, LGT Lightrock, Eight Roads and Think Investments hold about 80% stake in API Holdings, with the top three - Prosus, TPG and Temasek – alone owning around 30% stake. Prosus Ventures (previously Naspers Ventures) and TPG Growth picked up minority stakes in the e-pharmacy last month.

Dhaval Shah, founder of Pharmeasy, and a TPG spokesperson declined to comment. Spokesperson with Temasek declined to comment

Last week, pharmacy chain Medplus, backed by PE fund Warburg Pincus, hired bankers to launch a  IPO at a valuation of $1 billion.

by Ella Jones | Linkedin

#News #IPO #ICO #Pharmeasy #Wcryptn.com

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