PharmEasy parent API Holdings pulls Rs 6,250 cr IPO, weighs rights issue from Prosus, TPG, Temasek
API Holdings has withdrawn the DRHP for its Rs 6,250 crore IPO originally filed in November 2021, citing weak market conditions. The Mumbai-based online pharmacy is now exploring a rights issue backed by existing investors Prosus, TPG and Temasek to shore up capital.
What happened
PharmEasy parent API Holdings has withdrawn its DRHP for a Rs 6,250 crore IPO filed in November 2021, and is now weighing a rights issue from existing investors
Key facts
- Rs 6,250 crore
- November 2021
- February 2022
Why this matters
API Holdings' shift to a Prosus/TPG/Temasek rights issue opens a window to revisit partnership, asset-carve-out, or consolidation talks while the company is capital-constrained and off the public-listing track.