Manipal Group proposes investing Rs. 1000 crores in Pharmeasy owner API Holdings.

26 July 2024

Manipal Group has proposed to invest approximately Rs 1,000 crore for an 18% stake in online pharmacy major PharmEasy owner API Holdings for the latter to repay its debt raised from Goldman Sachs. API Holdings has to repay a debt of Rs. 2500 crores. So, other existing investors are expected to pump in approximately Rs 1,500 crore in a funding round led by the Manipal Group. With this, the total valuation of API Holdings is expected to touch Rs 6000 crores. This will make Manipal group the single largest shareholder in API Holdings.