PharmEasy parent withdraws IPO DRHP

Published on Aug 22, 2022 09:42

API Holdings, the parent entity of PharmEasy, on 20 August 2022, announced the withdrawal of the draft red herring prospectus (DRHP) submitted for an initial public offering (IPO).

According to the media reports, the pre-IPO draft papers, which were filed on 9 November 2021, were withdrawn due to "market conditions and strategic considerations".

API Holdings is committed to its growth and expansion plans, and is considering to raise funds via a rights issue.

The rights issue will be open for a period of 30 days. The price is expected to be Rs 100 per share and is set to open around the first week of September, reports added.

API Holdings is India`s largest digital healthcare platform (based on GMV of products and services sold for the year ended 31 March 2021) which operates an integrated, end-to-end business solving the healthcare needs of consumers through technology and fulfilment capabilities.