PharmEasy withdraws plan for ₹6,250 crore IPO citing market conditions

PharmEasy's parent company API Holdings has announced that it has withdrawn the draft papers submitted for an IPO, due to "market conditions and strategic considerations". The company had filed the draft papers with the SEBI last year to raise ₹6,250 crore through fresh equity issuance. The online pharmacy startup is now planning to raise funds through a rights issue.