Fearing volatility in inventory markets, API Holdings, the mother or father firm of healthtech unicorn PharmEasy, has withdrawn the draft purple herring prospectus (DRHP) it had filed with the Securities and Exchange Board of India (Sebi), the corporate knowledgeable shareholders in a discover.
The pre-IPO draft papers, which have been filed final yr, are being withdrawn on account of “market conditions and strategic considerations”, the corporate mentioned. The markets regulator had accepted PharmEasy’s Rs 6,250-crore preliminary public providing (IPO).
However, API Holdings intends to lift funds to finance its growth and progress plans. The discover by the corporate mentioned that it will elevate extra funds through a rights points at a difficulty value of Rs 100 a share.
