PharmEasy eyes IPO comeback after Claypond, Temasek, TPG-backed parent clears debt

API Holdings, the parent of PharmEasy and backed by global private equity firm TPG, is laying the groundwork for a potential return to the public markets after repaying its term debt, but says profitability will come before any decision on an initial public offering. The company recently repaid its outstanding term debt of Rs 1,050 crore using proceeds from a partial stake sale in Thyrocare and internal accruals, while retaining a 51.02 percent controlling stake in the listed diagnostics company. Managing Director and CEO Rahul Guha, in a recent interview to Moneycontrol, said API Holdings is now targeting profitability in its business excluding Thyrocare by March 2027. At the consolidated level, including Thyrocare, the company has already turned profitable.