PharmEasy (API Holdings Ltd) Proposed issuance Notice under the shareholders agreement for rights issue CCPS
1. Withdrawal of DRHP
the Company is desirous of undertaking a capital raise. Due to market conditions and strategic considerations, the Company has withdrawn its draft red herring prospectus (DRHP) which was filed with Securities Exchange Board of India (SEBI) on November 9,2021.
2. Right Issue
The Company continues to be committed to its growth objectives and keeping in mind the support received from its shareholders, the Company is pleased to inform you that it is considering a rights issue in accordance with the Companies Act, 2013 and its Articles of Association.
3. Parameters of the Right Issue
Shareholders of the Company will receive the letter of offer inviting them to participate in the rights issue on the terms which will be approved by the Board. The rights issue is being considered on the following key parameters:
a. Type of Instrument: Compulsory Convertible Preference Shares (CCPS).
b. Issue Price: Expected to be around INR 100 per CCPS.
c. Estimated Timelines for the issue: The rights issue will be open for a period of 30 days, starting from on or around the first week of September.
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