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IPO buzz in healthcare sector as API Holdings, Wellness Forever Medicare get SEBI nod for public issue

API Holdings, the parent company of pharmacy platform PharmEasy, Adar Poonawalla-backed Wellness Forever Medicare and metal recycling firm CMR Green Technologies have received a green signal from the market regulator Sebi to raise funds through IPO, said Zee Business’ Devanshi Ashar.

Ashar said that API Holdings would release shares worth Rs 6,250 crore in its initial issue. Out of which, the company will use Rs 1,929 crore to repay its debts and around Rs 1,250 crore to fund organic growth initiatives.

Other diagnostics companies like Metropolis and Dr Lal path labs are expected to show green movement despite the volatility in the stock market.

Another company Wellness forever with its headquarter in Mumbai. It has its retail chain of pharmacy wings expanded in Goa, Karnataka, and other parts of Maharashtra. Forty per cent of its revenue is from the non-pharmacy sector. Additionally, its retail chain is much bigger than Apollo Pharma.

Market expert Sandeep Wagle said that investors can buy Metropolis Fut with a stop loss of Rs 1950 and can enter it when it has crossed the Rs 2070 mark. Zee Business

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