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Pharmeasy IPO

ABOUT PHARM EASY

Founded in 2015

Founders – Dharmil Sheth and Dhaval Shah Pharm

MANAGEMENT

Chief Executive Officer  –  Dharmil Sheth

Chief Technology Officer – Bhaskar Raju

PharmEasy is basically Pharmacy made Easy and is the largest pharmacy aggregator in India.

Pharmeasy reach

Pharm Easy delivers orders ( medicines and healthcare products) in more than 1,000 cities and towns covering 22,000+ pin codes. It includes Mumbai, Kolkata, Delhi, Bengaluru, Ahmedabad, Hyderabad, and Chennai.

How they work?

  • API Holdings — the parent company of PharmEasy  has appointed five independent directors to its board. Pharm Easy  India’s biggest online pharmacy is likely to file its IPO papers by October for a listing later in the fiscal year.
  • In less than four months, its valuation jump threefold
  •   April 2021, Pharm Easy raised about $350 million from Prosus Ventures (formerly Naspers) and TPG Growth at a valuation of $1.5 billion, becoming the first Indian e-pharmacy unicorn.
  •   May 2021, Pharm Easy completed the acquisition of smaller rival Medlife to become India’s largest online pharmacy and healthcare aggregator.
  •   June2021, API Holdings bought a controlling stake in Thyrocare Technologies for ₹4,546 crore.
  •  September 2021, Aknamed is into providing supply chain solutions for hospital chains and mid-sized hospitals. PharmEasy is acquiring three-year-old Aknamed for upto $200 million.
  • As of  now, PharmEasy owns 67%  stake in the company followed by Lightstone 31% and other stakeholders hold another 1.4%.
  • As per the filings, PharmEasy has bought out the stake of five promoters of Aknamed — Saurabh Pandey, Mahadevan Narayanamoni, Mayank Kapoor, Shaunak Joshi and Varun Vohra — who collectively controlled a 50.67%.
  • Pharm Easy hired Morgan Stanley and Kotak Mahindra Capital as advisers for its IPO.

Ambition

  • Sole purpose is to make affordable healthcare accessible to all in 2015.
  • To help patients connect with local pharmacy stores .
  • To assist diagnostic centres in order to fulfil their extensive medical needs.
  • Make sure that everyone should have access to good health.

Capitalist

Aarin Capital, Astarc Ventures, B Capital Group, Bessemer Venture Partners, Caisse de Dépôt et Placement du Québec, Eight Roads Ventures India, F-Prime Capital Partners, Fundamentum, InnoVen Capital, JM Financial, KB Financial Group, LGT group, Manipal Group, Orios Venture Partners, Prosus Ventures, Temasek Holdings, Think Investments, TPG Growth, Trifecta Capital Advisors

KEY PLAYERS

  • Important players in the domestic retail pharmacy segment both online and offline:
  • Chennai-based Netmeds was acquired by Reliance Industries (Vitalic Health Pvt. Ltd) for ₹620 crore in August, 2020.
  • Tata Sons Private Limited, acquired a majority stake in digital health company 1MG Technologies Private Ltd. (“1MG”) in June, 2021.
  • Amazon pharmacy  (launched by Amazon last year in Bengaluru).
  • Apollo Pharmacy.

Ø  Others include Warburg Pincus and PremjiInvest-Backed Medplus

Financials

According to the data from the Department of Industrial Policy and Promotion, the Indian retail pharmacy segment is estimated to be worth $18 billion and is expected to touch $50 billion by 2025.

The E-pharma space is estimated to grow at an annual average growth rate of 18.1% to reach $18.1 billion by 2023.

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