PharmEasy may raise ₹2,400 cr from Ranjan Pai, others
The Hindu
Manipal Group will invest ₹1,000 crore in PharmEasy, an API Holdings-owned online pharmacy platform, as per market sources.
Manipal Group will invest ₹1,000 crore in PharmEasy, an API Holdings-owned online pharmacy platform, as per market sources.
While ₹1,000 crore will come from Manipal Group’s Ranjan Pai’s family office, existing investors in PharmEasy, Temasek Holdings and others would invest another ₹1,400 crore in the venture, sources confirmed.
“It is a confirmed investment, although some portion of the due diligence process is still on,” said a top source close to the Manipal Group on Wednesday.
Manipal Group had earlier participated in the Series A and Series C fund rounds of PharmEasy and invested a cumulative of ₹40 crore and successfully exited too.
The e-pharma, PharmEasy, is currently valued in the $500 to $600 million range, against its 2021 valuation of $5.6 billion.
In June 2021, PharmEasy’s parent API Holdings, a digital healthcare platform, had acquired a 66.1% controlling stake in Thyrocare, a chain of diagnostic and preventive care laboratories.
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