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API Holdings files DRHP for Rs 6,250 crore IPO

12 Nov 2021 Evaluate

API Holdings, the parent company of pharmacy platform PharmEasy, has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise up Rs 6,250 crore through an initial public offering (IPO). The funds will be raised through fresh issuance of equity shares.

The company plans to utilise the net proceeds to prepay or repay an outstanding debt of Rs 1,929 crore, fund organic growth initiatives totalling to Rs 1,259 crore, pursue inorganic growth through acquisitions and other strategic initiatives aggregating to Rs 1,500 crore, and for general corporate purposes. Citigroup Global Markets India, JM Financial, Kotak Mahindra Capital, Morgan Stanley India and BoFA Securities India are the book running lead managers to the issue.

API Holdings is the leading digital healthcare platform.


Peers
Company Name CMP
Redington 222.80
Adani Enterprises 2505.65
Amrapali Industries 18.21
Rashi Peripheral 530.50
PDS 300.95
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