Multicorporate-backed online pharmacy operator API Holdings has filed for an offering that will not involve its shareholders selling their stakes.

API Holdings, the India-based, corporate-backed owner of digital drugstore operator PharmEasy, filed for a Rs 62.50bn ($842m) initial public offering today on the Securities and Exchange Board of India.

The offering size may decrease if API Holdings carries out a pre-IPO private placement of up to $168m, it said in the prospectus. The listing does not include an offer for sale, suggesting none of the shareholders will divest their stakes in the company.

Founded in 2015, PharmEasy provides digital…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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