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TPG-Supported PharmEasy an Initial Offer Worth $1 Billion

05 August 20224 mins read by Angel One
TPG-Supported PharmEasy an Initial Offer Worth $1 Billion
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API Holdings Pvt., the owner of the largest online pharmacy in India i.e., PharmEasy, is planning a Mumbai IPO to fundraise nearly $1 billion. It is expected that this leading pharmacy, backed by Temasek Holdings Pte and TPG, may file its DRHP before October-end. Also, there is much speculation that the potential public offer could go live by March 2022. Since deliberations are at an early stage, the IPO details could change.

On that note, let us take a quick look at the company’s prospects and other details in brief.

Where does PharmEasy Stand Now?

As per reports, API Holdings managed to raise nearly $420 million in this June funding round. Accordingly, it pushed the company’s valuation to $4.1 billion.

Recently, PharmEasy’s CEO, Siddharth Shah, had stated that after acquiring Thyrocare, this company would set a target of 6-18 months to pave the way for its IPO. Accordingly, the company managed to seal the Thyrocare deal for a whopping $611 million and acquired a majority stake in the company this June.

It is expected that JM Financial and Kotak Investment Banking could be appointed as the merchant bankers for this upcoming IPO. These financial entities played an active role in Thyrocare’s deal as well.

PharmEasy’s Key Highlights – In a Nutshell

This company was founded in the year 2014 in Mumbai. As of 31 March 2021, PharmEasy had a total of 1570 employees.

Here are some of the key highlights of this company:

  • This company has delivered over 15 million orders inclusive of healthcare products, medicines and diagnostic kits.
  • It has an extensive delivery network spread across 1000+ cities in India.
  • On 28 June 2021, this company raised $300 million in its D-series funding round. The involved investors included the likes of Temasek and Kotak Mahindra, among others.
  • The company boasts of having the backing of nearly 60 investors.

Final Takeaway

The healthcare and pharmaceutical sectors are at their peak in India. The demand for prompt healthcare services and a robust pharmaceutical supply chain network is at an all-time high.

This makes it the right time for investors who have been planning to speculate in this space for the longest. With the players such as PharmEasy entering into the IPO arena, it is expected that stag investors could benefit significantly.

Keep an eye on Angel One blogs to stay tuned with the latest IPO updates!


Frequently Asked Questions

  1. Who are the top competitors of PharmEasy?

MedPlus, Netmeds, Myra, Practo, 1mg and HealthMug, are among the top competitors of PharmEasy.

  1. Who are the founders of PharmEasy?

Siddharth Shah, Ashish Kumar, Mikhil Innani, and Dhaval Shah are the founders of PharmEasy.

  1. What is PharmEasy’s recent acquisition?

The company bought Thyrocare’s majority stake in June 2021 with Rs. 45.5 billion.

  1. When can we expect PharmEasy IPO?

It is speculated that PharmEasy will launch its IPO in 2022 and is likely to file its DRHP by this October.


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