PharmEasy aims for $9 billion valuation via public offering

Online drugstore PharmEasy, which bought diagnostic chain Thyrocare in June, aims to raise a billion dollars at a valuation of $9 billion in its initial public offering later this year, two people directly aware of the company’s plans said.

API Holdings Ltd, the parent of PharmEasy, will raise the entire amount by selling new shares, the people said on condition of anonymity.

They said none of its existing shareholders, including its founders and investors, will sell their shares in the IPO.

Prosus Ventures, TPG Growth, CDPQ and Temasek are among PharmEasy’s top investors. The decision not to cash out their stakes during the IPO indicates confidence among PharmEasy’s investors about the growth potential of the company and the online pharmacy market.