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UNLISTED COMPANY PROFILE

PHARMEASY

HEALTHCARE LINE
INDICATIVE PRICE / SHARE
₹6.25
▲ +11.6% · 30-DAY
OTC REFERENCE PRICE · NOT AN OFFER TO DEAL
PRICE AS OF 02 SEPT 2026
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INDICATIVE PRICE HISTORY · DATED OBSERVATIONS SINCE 2023

PRICE HISTORY.

Use the left and right arrow keys to inspect dated observations. Home selects the first observation and End selects the latest.

₹25
₹5.6
27 Mar 2328 Mar 2602 Sept 26

ALL-TIME LOW
₹5.6
ALL-TIME HIGH
₹25
WINDOW
ALL
NOT A STOCK-EXCHANGE QUOTE · NOT AN OFFER TO DEAL
THE TIMETABLE · KEY NUMBERS

Key numbers

Published fundamentals and the date each figure was recorded.

CALCULATION METHOD →
Market cap
₹9,538 Cr
Latest available company data
Min. investment
₹10,000
Indicative price × lot size
Lot size
1,600
P/B ratio
3.57
EPS
-1.05
Book value
₹1.75
Face value
₹1
Debt / equity
0.68
ISIN
INE0DJ201029
Company security identifier
THE BUSINESS · HOW IT EARNS

API Holdings Limited operates a technology-enabled healthcare platform through its PharmEasy marketplace and group businesses rather than as a single-channel pharmacy. The annual report describes product sales on the PharmEasy marketplace, technology-powered distribution to chemists and institutions through Retailio 1P, and hospital distribution through Aknamed. Retailio 1P procures pharmaceuticals, OTC products, surgical goods and consumables from pharmaceutical companies, then supplies local chemists and institutional customers directly or through Retailio technology. The group's diagnostics activity uses Thyrocare laboratories and offers tests through collection centres, home collection and online booking; PharmEasy Labs is its marketplace-facing diagnostics brand. Other services include fulfilment for pharmaceutical and OTC products sold on the marketplace and technology or software services for doctors and pharmacies. Retailio's app and web platform connect wholesalers and pharmacies for procurement. The disclosed model therefore combines marketplace commerce, B2B distribution, institutional supply, diagnostics and healthcare software and fulfilment services.

About this company

PharmEasy is the consumer-facing brand operated under API Holdings Limited, one of India's largest digital healthcare and e-pharmacy platforms. The business connects patients, pharmacies, diagnostic labs, and hospitals through a single technology layer, allowing users to order prescription and over-the-counter medicines, book diagnostic tests, schedule teleconsultations, and access health products for home delivery. Over time the group expanded from a pure online pharmacy into a broader healthcare ecosystem spanning retail distribution, business-to-business pharmaceutical supply, diagnostics, and software tools for clinics and pharmacies. The company scaled rapidly through both organic growth and acquisitions, most notably the buyout of the diagnostics chain Thyrocare, which added a large pathology and laboratory network to the platform. Its operations cover thousands of pin codes across India, supported by a network of fulfilment centres, partner pharmacies, and logistics infrastructure. This multi-segment model positions API Holdings as a vertically integrated player addressing several parts of the healthcare value chain rather than a single product line. API Holdings has been backed by a roster of prominent venture capital and private equity investors and was, at its peak, valued among India's most highly funded healthcare startups. The company filed draft IPO papers with the market regulator but subsequently withdrew them, choosing instead to strengthen its balance sheet through rights issues aimed at reducing debt and funding continued operations. As a result, its equity shares remain unlisted and are quoted on private secondary markets at an indicative level. PharmEasy draws interest in the unlisted segment because of its brand recognition, its scale across pharmacy and diagnostics, and its status as a closely watched company whose eventual listing intentions remain a subject of market attention. The indicative price reflects negotiated transactions between buyers and sellers in the unlisted space and can move with funding rounds, financial disclosures, and broader sentiment toward digital healthcare. The figures shown here are indicative market data points for information only and do not constitute any form of advice.

COMPANY AT A GLANCE
Sector lineHealthcare
SettlementNSDL / CDSL
Incorporated2019
Listing statusUnlisted / Pre-IPO
*INDICATIVE · TIMELINE MAY CHANGE · NOTHING FINAL UNTIL THE RHP

COMPANY REGISTRY · ON FILE

PUBLIC OR ADMIN-SUPPLIED DATA · VERIFY INDEPENDENTLY
CIN
U60100MH2019PLC323444
PAN
AASCA1201E
Incorporated
2019
Outstanding shares
170.32 crore shares (1,703,249,5304 equity shares; ~1,716 crore per some sources)
Registered office
1st Floor, E-Shape Building, Ashok Silk Mills Compound, 202, L.B.S Marg, Ghatkopar (West), Mumbai 400086, Maharashtra, India
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THE LOGBOOK · FINANCIALS BY YEAR

WHAT THE ENGINE HAS DONE.

AMOUNT UNIT NOT VERIFIEDFY21FY22FY23FY24FY25
REVENUE2,33,5275,72,8826,64,3945,66,4295,87,216
PAT-64,134-3,99,250-5,21,144-2,53,340-1,57,239
EPS (₹)-9-3-1
PAT MARGIN-27%-70%-78%-45%-27%
CAUTION · AMOUNT UNIT AND FIELD-LEVEL SOURCES HAVE NOT BEEN VERIFIED · DO NOT RELY ON THESE FIGURES WITHOUT CHECKING THE COMPANY FILING

THE CREW · BOARD & MANAGEMENT

Siddharth Shah
Co-Founder, Managing Director & CEO
Dharmil Sheth
Co-Founder, Whole-time Director
Dr. Dhaval Shah
Co-Founder, Whole-time Director
Harsh Parekh
Co-Founder, Whole-time Director
Hardik Dedhia
Co-Founder
COMPANY TIMELINE · EVENTS
FY26 results: first-ever positive EBITDA of Rs 62.5 crore (reported May 2026)

API Holdings reported consolidated FY26 revenue of about Rs 6,869 crore, up roughly 14% year-on-year, and posted its first full-year positive EBITDA of around Rs 62.5 crore, reversing an EBITDA loss of about Rs 231 crore in FY25. Profit before tax remained negative at around Rs 388 crore due to legacy finance costs.

Raised Rs 1,700 crore via NCDs, pledging ~61% of Thyrocare (September 2025)

API Holdings raised about Rs 1,700 crore through redeemable non-convertible debentures to refinance an earlier NCD liability, with subsidiary Docon Technologies pledging roughly 61% (about 3.23 crore shares) of listed diagnostics firm Thyrocare as collateral. The round was reported as led by 360 One with participation from Micro Labs, MVS Ventures, Bennett Coleman and others.

READ THE NOTICE →
Leadership change: Siddharth Shah steps down as CEO; Rahul Guha takes over (August 2025)

Co-founder Siddharth Shah stepped down as chief executive officer of PharmEasy/API Holdings, with Rahul Guha, previously managing director and CEO of group company Thyrocare, taking over as CEO.

READ THE NOTICE →
FY25 results: revenue roughly flat at ~Rs 6,010 crore as company prioritised margins (reported 2025)

For FY25 API Holdings reported consolidated revenue of around Rs 6,010 crore, broadly flat year-on-year, while narrowing losses as management focused on improving gross margins and cutting costs across the PharmEasy consumer and distribution businesses and the Thyrocare diagnostics arm.

READ THE NOTICE →
THE GLOVEBOX · ANNUAL REPORTS
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NON-BINDING · NO PAYMENT · NOT AN OFFER TO DEAL
RESEARCH DESK · QUESTIONS

COMMON QUESTIONS.

Is PharmEasy listed on the stock exchange?+

No. As of 2 September 2026, PharmEasy is an unlisted company whose shares trade over-the-counter; it would list only if and when it completes an IPO.

What is the PharmEasy unlisted share price?+

As of 2 September 2026, the indicative unlisted share price of PharmEasy is ₹6.25 per share. This is an over-the-counter reference price, not a stock-exchange quote.

What indicative minimum amount is displayed for PharmEasy unlisted shares?+

The displayed unit count is 1,600 share(s); at the indicative price of about ₹6.25, the displayed amount is approximately ₹10,000. This is a display convention, not evidence of inventory, an order minimum or a quote.

What is the ISIN of PharmEasy?+

The recorded ISIN of PharmEasy is INE0DJ201029. An ISIN is a 12-character security identifier. Verify it against the issuer and the relevant depository record before using it for any transfer or documentation.

Is trading in PharmEasy unlisted shares legal in India?+

Unlisted shares can be transferred off-market in India, but the legal, tax and compliance position depends on the security, parties, documents and current rules. Verify the intermediary, issuer restrictions and applicable requirements before proceeding.

Is there a lock-in period for unlisted shares?+

A post-listing lock-in may apply under the rules in force at the time. The period and any exemptions can depend on the holder and acquisition, so check the current regulation and the issuer's offer documents rather than relying on a generic period.

Do you guarantee returns?+

No. Unlisted shares carry higher risk and lower liquidity than listed shares. Returns depend on company performance, market conditions and future listing outcomes. This is information only, not investment advice.

SIMILAR COMPANY PROFILES
HEALTHCARE LINE.
Prices shown are indicative over-the-counter reference prices, not an offer to deal. This page is information only and not investment advice. Unlisted shares carry higher risk and lower liquidity than listed shares. Settlement to your own demat account via NSDL / CDSL through registered intermediaries.
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