Manipal Group to invest Rs 1,000 crore in Pharmeasy
In a significant development, API Holdings, the owner of online pharmacy PharmEasy and the promoter of Thyrocare, is currently engaged in discussions for a substantial fundraise aimed at repaying debt.
Sources suggest that Manipal Group has expressed interest in investing approximately Rs 1,000 crore for an 18 percent stake (post-money valuation) in API Holdings. As part of this potential investment, Manipal Group may also secure a board seat at API Holdings. Furthermore, existing investors of API Holdings are expected to contribute approximately Rs 1,500 crore in a funding round led by Manipal Group.
This fundraise comes at a crucial time for API Holdings as it seeks to address its debt obligations and strengthen its financial position. The entry of Manipal Group as a strategic investor could bring both capital infusion and valuable expertise to API Holdings. Further updates regarding this development are awaited.
