Goldman Sachs likely to invest Rs 2,700 crore in PharmEasy parent
Goldman Sachs is in advanced talks to invest about $350 million (Rs. 2,700 crores) in API Holdings Ltd., the parent of online pharmacy PharmEasy, in a structured debt transaction.
The debt will carry an interest rate of 14-15% and also have a pre-agreed equity upside, or a premium to the rate based on potential increase in the company's valuation. The money will predominantly be used to refinance the debt the company had taken to fund its acquisition of diagnostic chain Thyrocare last year.