In a significant development, API Holdings, the owner of online pharmacy PharmEasy and the promoter of Thyrocare, is currently engaged in discussions for a substantial fundraise aimed at repaying debt. Exclusive details obtained reveal that API Holdings had pledged Thyrocare shares as collateral for the debt.
Sources suggest that Manipal Group has expressed interest in investing approximately Rs 1,000 crore for an 18 percent stake (post-money valuation) in API Holdings. As part of this potential investment, Manipal Group may also secure a board seat at API Holdings.
Furthermore, existing investors of API Holdings are expected to contribute approximately Rs 1,500 crore in a funding round led by Manipal Group.
