Api Holdings News Today

The online pharmacy was last valued at $5.6 billion in 2021, followed by nearly 90 percent decrease in its valuation amidst debt repayment related challenges.

The Competition Commission of India (CCI) has cleared Manipal group chief Ranjan Pais 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. Ranjan Pai invests in PharmEasys funding with 360 One. API Holdings board seats acquired. Rights issue resolves debt. Monthly burn reduction and strategic direction expected.

Pai is also joining the board of PharmEasy and is expected to work with CEO Shah. He will retain the board seats as long as his holding doesnt go below 15%, people in the know added. His family office is investing around Rs 1,300 crore in PharmEasy.

Pai is also joining the board of PharmEasy and is expected to work with CEO Shah. He will retain the board seats as long as his holding doesn’t go below 15%, people in the know added. His family office is investing around Rs 1,300 crore in PharmEasy.

API Holdings, which runs omnichannel pharmacy chain Pharmeasy, and was struggling to raise capital, has raised Rs 3,500 crore ($420 million) through a rights issue, ......

The Manipal Groups family office had made a binding offer to invest up to Rs 1,300 crore in the online pharmacy

Earlier, it was reported that Manipal Group has offered to invest approximately Rs 1,300 crore for an 18 per cent stake in API Holdings.

PharmEasy is faced with a steep cut in its valuation, with the new funding round pegging its shares at Rs 5 each compared to the Rs 50 per share that it secured in 2021. The huge fall in value has triggered questions about the fate of Velumanis purchase of a 5% stake in the firm in 2021 when it was valued at $4 billion.

The board notified its shareholders about increasing the authorised share capital to Rs 3,500 crore (about $423.72 million), divided into 3,000 crore equity shares of Re 1 each, and 500 crore preference shares of Re 1 each. A company increases its authorised share capital to pump in new money from investors.

The firm had plans to raise ₹6,250 crore via its IPO but had deferred the issue, citing market conditions and strategic considerations. At that time, the company had said that it would instead raise funds from existing shareholders via a rights issue