Pharmeasy files for Rs. 6250 Cr IPO
API Holdings, parent company to Healthcare startup Pharmeasy, has filed its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI). The company is looking to raise Rs. 6250 Cr. in its initial public offering (IPO).
The IPO will only consist of a primary freshly issued share sale, existing investors will not be selling their stake in the company. The capital raised will be dedicated to debt repayment, expansion and other purposes.
“We expect our operating expenses to increase as we expand our operations. If our revenue does not grow at a greater rate than our expenses, we may not be able to achieve and maintain profitability,” states the DRHP.
Founded in 2015 by Siddharth Shah, Dhaval Shah, Dharmil Sheth, Harsh Parekh, and Hardik Dedhia, Pharmeasy set out to become a healthcare delivery platform.
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