Digital healthcare platform PharmEasy targets $842 million IPO

0
38
Digital healthcare platform PharmEasy targets $842 million IPO
Digital healthcare platform PharmEasy targets $842 million IPO

The digital healthcare company counts technology-focused venture capital firm Naspers and entities related to global investment group CDPQ and private-equity firm TPG among its investors

Becoming the latest start-up in the country to pursue a domestic stock listing, on Wednesday, Indian digital healthcare platform PharmEasy filed for an initial public offering (IPO) of up to 62.50 billion rupees ($842.43 million).

Ranging from tele-consultation to radiology tests to home delivery of medical products and devices, the digital healthcare company provides health services.

The proforma gross merchandise value or the total monetary value of all sales for the digital healthcare company for the three months ended 30 June stood at 30.26 billion rupees.

Via a private placement of up to 12.50 billion rupees, API Holdings Ltd, PharmEasy’s parent, may also consider a further issue of equity shares, the company said in its draft red herring prospectus dated 8 November.

The digital healthcare company counts technology-focused venture capital firm Naspers and entities related to global investment group CDPQ and private-equity firm TPG among its investors.

The firm had acquired Thyrocare Technologies, India’s largest diagnostic test provider by volumes, in September, in a bid to diversify its operations.

The digital healthcare platform IPO filing comes on a day when Indian fashion e-commerce start-up Nykaa is set to debut on stock exchanges, while fin-tech platform Paytm closes subscription prior to its debut.

Citigroup Global Markets India, JM Financial Ltd, Kotak Mahindra Capital, Morgan Stanley India and BoFA Securities India are joint book runners in API Holdings’ IPO.

Also readCIO News interviews Shri Wangki Lowang, Minister (IT) of Arunachal Pradesh

Do FollowCIO News LinkedIn Account | CIO News Facebook | CIO News Youtube | CIO News Twitter

About us:

CIO News, a proprietary of Mercadeo, produces award-winning content and resources for IT leaders across any industry through print articles and recorded video interviews on topics in the technology sector such as Digital Transformation, Artificial Intelligence (AI), Machine Learning (ML), Cloud, Robotics, Cyber-security, Data, Analytics, SOC, SASE, among other technology topics.