The Competition Commission of India (CCI) has cleared Manipal group chief Ranjan Pai's investment in online pharmacy PharmEasy

Unlisted Deals:

ador powertron 500.00 (4,900.00 %) amol minechem 601.00 (0.17 %) anglo french drugs 950.00 (2.15 %) anugraha valve 510.00 (0.99 %) apl metals 39.00 (-2.50 %) apollo fashion 92.00 (-4.17 %) arkfin investments 50.00 arohan 250.00 (-1.96 %) assam carbon 310.00 (-1.59 %) avalokiteshvar 242.00 (0.83 %) axles india 680.00 (0.74 %) balmer lawrie 200.00 (-0.99 %) bharat hotels 390.00 (4.00 %) bima mandi 235.00 (-2.08 %) bira 545.00 (-0.91 %) blsx limited 35.00 (2.94 %) boat 1,550.00 (-1.90 %) c & s electric 1,070.00 (1.90 %) cable corporation 20.00 (-18.37 %) capgemini 14,500.00 (-0.68 %) care health 184.00 (-0.54 %) carrier aircon 550.00 (0.92 %) cial 470.00 (1.08 %) csk 195.00 (-1.52 %) dalmia refract 270.00 (-1.82 %) dfm foods 467.00 dsp merrill lynch 1,000.00 east india pharma 39.00 (-2.50 %) eaton fluid 445.00 (1.14 %) electronica plastic 4,500.00 (2.27 %) elgi ultra 400.00 elofic industries 2,850.00 (1.79 %) esl steel 42.00 (-2.33 %) fincare business 87.00 (1.16 %) fincare sfbl 205.00 (1.49 %) finopaytech limited 149.00 (-0.67 %) flipkart india 231,001.00 (0.00 %) frick india 3,400.00 (-2.86 %) gkn driveline 1,750.00 (2.94 %) goodluck defence 296.00 (-1.00 %) group pharma 300.00 gynofem healthcare 59.00 (-1.67 %) hazira cargo terminals limited 205.00 (1.49 %) hdb financial 1,225.00 (-0.81 %) hdfc ergo 370.00 (1.70 %) hdfc securities 10,999.00 (-2.66 %) hella india 900.00 (-2.17 %) hero fincorp 1,965.00 (-0.51 %) hexaware 980.00 (-0.51 %) hicks 1,600.00 (1.59 %) hira ferro 200.00 (2.56 %) honeywell electrical 7,300.00 (1.39 %) ikf finance 320.00 (-3.03 %) incred financial 10.00 (1.01 %) incred holdings 155.00 (-0.64 %) india carbon 1,120.00 (-1.32 %) india exposition 121.00 (0.83 %) indian potash 3,100.00 (-1.59 %) indian seamless 195.00 (2.63 %) indo alusys 25.75 (-0.96 %) indofil 1,430.00 (-0.69 %) infinite computer 405.00 (1.25 %) inkel 22.50 (-2.17 %) jana small finance bank 75.00 kel 535.00 (-0.93 %) kial 137.00 (-0.72 %) klm axiva 15.50 (3.33 %) kurlon limited 1,275.00 (1.59 %) lava 43.00 (-4.44 %) mahindra rural mrhfl 100.00 manipal housing 74.00 (2.07 %) manjushree technopack 850.00 (-2.86 %) martin & harris 820.00 (-1.20 %) matrix gas 810.00 (-2.41 %) merino 3,250.00 (-1.52 %) minosha 282.00 (0.71 %) mitsubishi heavy 207.00 (-0.48 %) mkcl 425.00 (-2.30 %) mobikwik 640.00 (-1.54 %) mohan meakin 2,300.00 (-4.17 %) mohfl 13.25 (-1.85 %) msei 1.80 (-2.70 %) msil 34.00 (3.03 %) nayara energy 690.00 (1.47 %) nayara energy ncd 320.00 (1.59 %) ncdex 200.00 (-0.99 %) ncl buildtek 310.00 (-3.13 %) ncl holdings 106.00 (0.95 %) nsdl 850.00 (3.03 %) nse india 1,800.00 (-2.70 %) onix renewable 19,000.00 (5.56 %) orbis financial 399.00 (-0.25 %) oswal minerals 60.10 (-1.48 %) otis elevator 4,100.00 (2.50 %) oyo rooms 53.00 (-1.85 %) panasonic appliances 262.00 (0.77 %) paymate india 500.00 (-1.96 %) pharmeasy 8.45 (-0.59 %) pharmed limited 660.00 (3.13 %) philips domestic 675.00 (-1.46 %) philips india 925.00 (-0.54 %) pnb metlife 70.00 proyuga adtech 25.00 purity flexpack 20.00 ramaraju surgical 260.00 (-1.89 %) rapido 16,650.00 (0.03 %) rasoi 82,000.00 (2.50 %) reliance gic 490.00 (2.08 %) resins plastics 525.00 (-0.94 %) ring plus aqua 560.00 (1.82 %) rrp s4e innovation 295.00 (-1.67 %) sab miller 535.00 (0.94 %) sbi amc 2,650.00 (-1.12 %) sbi general insurance 621.00 (0.16 %) scottish assam 505.00 (1.00 %) shriram life 261.00 (0.38 %) sigachi laboratories 36.00 (-2.70 %) signify 1,325.00 (-1.85 %) smile microfinance 51.00 (-1.92 %) sterlite grid 5 275.00 (-3.51 %) sterlite power 590.00 (-1.67 %) studds 1,300.00 (-1.89 %) svsml 315.00 (2.94 %) t stanes 800.00 (1.27 %) tata capital 890.00 (-0.56 %) trl krosaki 1,750.00 (-1.41 %) urban tots 64.00 (-1.54 %) utkarsh coreinvest 290.00 (-1.69 %) vikram solar 442.00 (-0.67 %) vivriti capital 1,040.00 (-0.95 %)

CCI Approves Ranjan Pai Investment in Pharmeasy

API Holdings Ltd

Created at 26 Mar 2024 08:08

The Competition Commission of India (CCI) has cleared Manipal group chief Ranjan Pai's investment in online pharmacy PharmEasy, according to the latest filing by the antitrust regulator. An additional investment from 360 One (formerly IIFL) in PharmEasy has also been cleared.

Pai's investment in PharmEasy is part of the Rs 3,500-crore funding through a rights issue. He has emerged as one of the largest investors in the Mumbai-based firm, with his stake now estimated at more than 12%. PharmEasy’s rights issue was initially planned for Rs 2,400 crore, but later bumped up to Rs 3,500 crore. It was priced at a 90% discount to PharmEasy’s peak valuation of $5.6 billion in 2021. The company had to undertake the rights issue to clear the debt it had taken from Goldman Sachs. Pai, over the past year, has increased his pace of investment through his family office, with significant investments in companies like Byjus-owned Aakash Institute, omnichannel jewelry maker Bluestone, and baby and mother care e-commerce firm FirstCry along with others.

PharmEasy has been reducing its monthly burn and growing sustainably. Pai is expected to give a strategic direction to the firm following his investment. It has lost market share to rivals like Tata Digital-owned 1mg. Flipkart Health Plus, Apollo, and Reliance-owned Netmeds are the other players in the sector.

https://economictimes.indiatimes.com

News Alert