B Capital bought these shares (equivalent to 2% stake) from Everstone Capital, which has made a partial exit from the company. The latest transaction has valued PharmEasy at $1.8 billion, up from $1.5 billion in April, the report said.
The development comes as PharmEasy’s parent API Holdings is also finalising a $20-million infusion from New York-based investment firm Tiger Global.
“[The] B Capital transaction is complete after Everstone Capital exited partially. For Tiger Global, only some paperwork is getting finished and should be completed soon,” the report said quoting sources.
PharmEasy had attained unicorn status in April this year after raising $350 million in a Series E funding round led by Prosus Ventures and TPG Growth.
PharmEasy is also planning to list on the bourses by launching an initial public offer (IPO) worth Rs3,000-3,700 crore. According to a recent Mint report, the company has also hired JM Financial and Kotak Investment Banking to execute the proposed IPO. The proposed offering is likely to value the company at around $3 billion.
Last month, the company had also acquired smaller rival Medlife, marking one of the largest consolidation deals in the Indian online pharmacy space.