Pharmeasy Rights Issue details
Issue Size: 750 Crores
Rights Entitlement Ratio: 1 CCPS for every 82 Shares held Record Date: September 9, 2022
Issue Price: ₹100 /- per CCPS (Premium 99Rs)
Right Issue Open date: September 21, 2022
Right Issue Close date: October 20, 2022
Lets understand the conversion to Pharmeasy equity shares:
The conversion to equity shares is dependent on the fund round of fund raise by the company, the schedule is as follows:
If the next fund raise happens before:
31st Dec ‘22 : 3% discount to the next fund raise share price
31st March ‘23 : 5% discount to the next fund raise share price
Any time after : At Rs 53.64/sh
Should you apply for rights?
Only if the company does a round a price lower than 35/sh rate before March 23, will an investor stand to gain from investing in the rights issue.
The next round for the company is planned at a tentative per share price of 27-30/sh
The risk is : if next round does not happen in the next six months, your CCPS will convert @ 53/sh which is much higher than the 35/sh market price of API holdings in the pre IPO markets.
Thus investors looking to invest in PharmEasy would be safer to invest directly in equity shares rather than going through the rights issue route.
Get more details Pharmeasy Shares here : https://altiusinvestech.com/company/pharmeasyapiholdingsltd
API Holding’s is India’s largest digital platform and operates as an integrated, end-to-end business that aims to provide solutions for healthcare needs of consumers across the following critical stages. Additionally, it is a consumer healthcare “super app” that provides consumers with on-demand, home delivered access to a wide range of prescription, OTC Pharmaceutical, other consumer healthcare products, comprehensive diagnostic test service, and teleconsultation thereby serving their healthcare needs. It has 25 Million + Total Users, 8.8 Million + Total Orders and 2.4 Million + Transacting Customers. Their services include ordering medicines and healthcare products and scheduling Diagnostic Tests.