API Holdings (Pharmeasy) Unlisted Shares
PharmEasy Parent API Plans Rs 1,700 Cr NCD Issue To Repay Debt
BW Disrupt
2 min read
PharmEasy Parent API to Raise Rs 1,700 Cr via NCDs for Debt Repayment.
Expert Analysis:
Fundraising Plan: API Holdings, parent of PharmEasy, will raise Rs 1,700 crore through secured, redeemable NCDs, backed by Thyrocare shares as collateral.
Debt Repayment: Funds will repay existing NCD obligations worth Rs 1,545.4 crore, linked to an earlier Rs 1,820 crore issuance.
Stake Pledge Revision: Docon Technologies will pledge up to 61 per cent of its Thyrocare stake, reduced from 71.06 per cent earlier.
Strategic Moves: PharmEasy’s fundraising supports its debt-reduction strategy to boost liquidity and revive IPO plans, alongside leadership changes with Siddharth Shah becoming vice-chairman and Rahul Guha taking over as CEO.
Financial Performance: PharmEasy reported a consolidated loss of Rs 2,531 crore in FY24, nearly halving year-on-year losses through a 20 per cent expense cut.
Debt reduction through Rs 1,700 crore NCDs, reduced collateral pledge, and narrowed FY24 losses strengthen PharmEasy’s investor confidence and IPO prospects.
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