ET reported on August 27 that PharmEasy may file its draft IPO paper by next month.
Following approval by its shareholders – along with the resignation of several investor nominee directors – API Holdings’ board now has a total of 12 members, including five independent directors. They:
- Vinita Rai, retired IAS officer, former Revenue Secretary of India
- Subramaniam Somasundaram, former Chief Financial Officer of Titan
- Ramakant Sharma, Founder and Chief Operating Officer of Livspace
- Dr Jaideep Tank, Mumbai based Gynecologist and General Secretary of Federation of Obstetric and Gynecological Societies of India.
- Deepak Vaidya, a veteran of the pharma industry, as well as microfinance, healthcare and private equity
According to a company statement released on Monday, the new appointments diversify the board with experts from the public service, technology, pharma, medical fraternity and consumer sectors.
PharmEasy is on track for an IPO, but is still in talks with new investors at $5.6 billion, ET’s valuation of between $200 million and $300 million.
informed of On August 27, people were told to be aware of the matter. Its plans to go public sometime later this fiscal year
achieved it Thyrocare Technologies – the first acquisition of a listed company by an Indian unicorn in a deal worth Rs 4,500 crore. However, it is in talks with Japan’s SoftBank Group Corp. to fund the acquisition.
fell through.
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“With the diverse experience of our board, our platforms will continue to make significant investments in improving access to affordable healthcare,” Siddharth Shah, API Holdings cofounder and chief executive officer said in the statement. “We are steadfast in our mission of providing affordable healthcare in every single ZIP code of India, be it consultation, trial of treatment within 24-hour TAT, and contribute to the Indian health ecosystem.”