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API Holdings receives Sebi approval for Rs 6,250 crore IPO
PharmEasy
Created at 22 Feb 2022 00:32

API Holdings, the parent firm of online pharmacy PharmEasy, has obtained approval from Sebi to fund Rs 6,250 crore through an IPO (IPO).

It will be the main share offer of Rs 6,250 crore. To finance organic development efforts, the business would use Rs 1,259 crore of the IPO proceeds to retire or prepay debt and Rs 1,929 crore to fund inorganic growth prospects through acquisitions and other strategic initiatives. The business may also explore a private placement of up to Rs 1,250 crore, in cooperation with the issuer's bankers. If this is done, the new issue will be smaller. The Mumbai-based company provides digital tools and information on health and wellness, teleconsultation, diagnostics and radiological testing, and treatment procedures including items and gadgets. It just bought Thyrocare Technologies.

API Holdings is India's largest digital healthcare platform, according to a RedSeer Report in its DRHP. The issue's book runners are Kotak Mahindra Capital, Morgan Stanley India, BofA Securities India, Citigroup Global Markets India, and JM Financial. The regulator also approved CMR Green Technologies and Wellness Forever Medicare's IPOs.

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