TPG-backed PharmEasy owner mulls $1 billion IPO

API Holdings Pvt., owner of India’s largest online pharmacy PharmEasy, is considering a Mumbai initial public offering that could raise as much as $1 billion, according to people familiar with the matter.

The company, backed by TPG and Temasek Holdings Pte, is working with advisers on a potential offering that could take place by March 2022, the people said. The firm plans to file a draft prospectus before the end of October, said one of the people, who asked not to be identified as the information is private.