September25 , 2026
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    Manipal Group to invest Rs 1,000 crore in PharmEasy

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    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.

    Based on these developments, the valuation of API Holdings is estimated to be around Rs 6,000 crore for this funding round. It is important to note that API Holdings is under pressure to repay a debt of Rs 2,500 crore. Previously, the company had pledged the shares of its subsidiary Thyrocare to Goldman Sachs as collateral for this debt.

    This fundraise comes at a crucial time for API Holdings as it seeks to address its debt obligations and strengthen its financial position. The entry of Manipal Group as a strategic investor could bring both capital infusion and valuable expertise to API Holdings. Further updates regarding this development are awaited.

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