New Delhi: API Holdings, the parent company of pharmacy platform PharmEasy, has filed for an initial public offering (IPO) worth up to Rs 62.50 billion (USD 842.43 million), making it the country's latest startup to seek a domestic stock listing. The company offers a variety of health-related services, including teleconsultation, radiology tests, and medical product and device delivery to patients' homes. API Holdings is also looking into a pre-IPO fundraise of Rs 1,250 crore through a private placement. If the Pre-IPO round is completed, the size of the IPO issue will be reduced.

The fund will be used to prepay or repay Rs 1,929 crore in outstanding debt, fund organic growth initiatives totaling Rs 1,259 crore, pursue inorganic growth through acquisitions and other strategic initiatives totaling Rs 1,500 crore, and for general corporate purposes, according to the company..

The public issue's bankers are Kotak Mahindra Capital Company Ltd, Morgan Stanley India Company Private Ltd, BofA Securities India Limited, Citigroup Global Markets India Private Ltd, and JM Financial Ltd.

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