PharmEasy calls off its public offer; to go for rights issue instead

API Holdings, the parent company of PharmEasy, wrote to shareholders announcing withdrawal of DRHP


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Sohini Das Mumbai
API Holdings, the parent firm of online pharmacy PharmEasy, has decided to withdraw its draft red herring prospectus (DRHP) filed with Securities and Exchange Board of India (Sebi), citing volatile market conditions and ‘strategic considerations’. The DRHP was filed on November 9, 2021.

The company has informed its shareholders that it has decided to go ahead with a rights issue instead. 

Further, API Holdings stated that the rights issue is planned around the first week of September and shall have compulsory convertible preference shares (CCPS) on offer. The issue price would be set at Rs 100 per CCPS.

According to media reports, PharmEasy

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First Published: Aug 20 2022 | 9:09 PM IST

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