Startup season: Online medical store PharmEasy targets $842 mn IPO

Indian digital healthcare platform PharmEasy filed on Wednesday for an initial public offering (IPO) of up to 62.50 billion rupees ($842.43 million), becoming the latest startup in the country to pursue a domestic stock listing.

The company provides health services ranging from teleconsultation to radiology tests to home delivery of medical products and devices.

For the three months ended June 30, the proforma gross merchandise value or the total monetary value of all sales for the company stood at 30.26 billion rupees.

API Holdings Ltd, PharmEasy’s parent, may also consider a further issue of equity shares via a private placement of up to 12.50 billion rupees, the company said in its draft red herring prospectus dated Nov. 8.