A multibagger IPO that's just what the doctor is prescribing in this bull run and PharmEasy seems to be the next big healthy bet for Dalal Street. Reports indicate the online pharma giant is looking at raising a billion dollars via an IPO soon.
Sources have told The Mint that Online drugstore PharmEasy is seeking valuation similar to Zomato at around $9 billion.API Holdings, the parent company raised about $420 million in June funding round valuing the company at about $4.1 billion.
The IPO is rumoured to be comprising only of fresh shares as the promoters or existing investors are unlikely to sell any stake. Prosus Ventures, TPG Growth, CDPQ and Temasek are among PharmEasy’s top investors.
PharmEasy has completed more than 15 million orders to over 5 million families, according to its website. The company in June bought a majority stake in Thyrocare Technologies Ltd. for $611 million.
Also Watch: PharmEasy buys Medlife to become India's largest medicine delivery platform