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Pharmeasy will submit your Ipo application next week 

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Pharmeasy will submit your Ipo application next week

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API Holdings, the parent company of online pharmacy retailer PharmEasy, is expected to file a draft of the red herring prospectus with the markets regulator Securities Exchange Board of India (SEBI) next week, sources told CNBC-TV18.

The size of the issue for the public offering has been set between Rs 6 billion and Rs 6.5 billion. The issue is expected to be a sell offer with API Holdings setting the price band for the IPO at a 15-20 percent discount to get good demand for the issue. The final valuation will depend on the demand observed around the listing, the sources said.

API Holdings expects to trade from January to February 2022, according to the corresponding regulatory approval. The company is currently considering a valuation of around $ 7 billion for the IPO.

It had managed to raise funds of $ 350 million in April, led by Prosus Ventures and TPG Growth. Existing investors, including Temasek, CDPQ, LGT Lightrock, Eight Roads, and Think Investments, also participated in the E-series round. With the investment round, the company officially became a unicorn.

API Holdings also has a majority stake in Thyrocare. The company had announced in June that it had acquired a 66.1 percent stake in Thyrocare from Dr. A Velumani and its affiliates at a price of Rs 1,300 per share added to Rs 4,546 million.

(Edited by : Yashi gupta)


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Pharmeasy will submit your Ipo application next week

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