Skip to content
Delisted Stocks Logo
  • Home
  • Current Offerings
    • Unlisted Share
  • Procedure
  • About Us
  • Blogs
    • What’s New
  • Contact Us
  • Home
  • Current Offerings
    • Unlisted Share
  • Procedure
  • About Us
  • Blogs
    • What’s New
  • Contact Us

Table of Contents

  • Buy & Sell
  • About The Company
  • Fundamentals
  • Financials
  • Promoters or Management
  • Annual Reports
  • Meet Our Team
  • Frequently Asked Questions
  • Latest News & Blogs
HCIN Networks

Trending Share

Ask Investment Managers (ASKIM) Unlisted Shares

Lord’s Mark Industries Unlisted Share

ESDS Software Unlisted Share

Xtranet Technologies Unlisted Shares

Pharmeasy Unlisted Shares

529.1K

BUY

₹ 4.80

SELL

₹ 5.10

Pharmeasy has been in great turmoil in the past few months. 4 out of its 5 promoters have resigned. It hasn’t been able to become profitable even though it is a well-established business. Also, their plans to list have been delayed a lot. These factors are the reason why there is not a lot of demand for this share and hence its price is not increasing.

[ninja_table_cell id='6753' row="1" column="1"]

As on May 30, 2026, we are buying shares of the API HOLDINGS LIMITED for ₹ 4.80 and selling them for ₹ 5.10 per share.

About Pharmeasy Unlisted Shares

Pharmeasy unlisted shares represent ownership in API Holdings, India’s largest digital healthcare platform. Founded in 2015, Pharmeasy revolutionized healthcare access by offering online medicine delivery, teleconsultations, diagnostic tests, and wellness products. With strategic acquisitions like Thyrocare (2021) and a presence in 18,587+ PIN codes, Pharmeasy connects consumers to pharmacies, labs, and doctors nationwide. Despite rapid growth, the company faces financial challenges, reflected in its unlisted shares valuation.

What is PharmEasy and Why Are Investors Still Watching It?

If you are looking to know about PharmEasy Unlisted Shares Price or have been reading a review about PharmEasy unlisted shares on the internet, you are at the right place. On this page, you will get a clear picture of PharmEasy Unlisted Shares in simple language. PharmEasy, which was originally known as API Holdings Limited, is India’s largest digital healthcare platform. In simple terms, PharmEasy is an app or a website where you can order medicines at home, get lab tests done, consult a doctor online, and even buy health and wellness products all in one place. PharmEasy was started back in 2015. During the Covid pandemic, when everyone wanted to get medicines at home instead of going to a pharmacy, PharmEasy’s growth was rapid. PharmEasy was valued at more than ₹60,000 Crore in terms of Unlisted Shares Price in 2021, when it was considered one of the most promising startup IPO candidates. But today, things are a little more complicated. You can also explore more such high-interest Unlisted Shares and can easily buy and sell unlisted shares in India.

PharmEasy API Holdings Share Price Today: What Drives It?

The PharmEasy API Holdings Share Price Today is determined through private market transactions since the company is not listed on any stock exchange. PharmEasy’s Unlisted Shares Price has declined significantly from a 2021 peak of ₹665 to a current price in single digits. What affects the PharmEasy Unlisted Shares Price today? Some of the key factors currently affecting PharmEasy’s Unlisted Shares Price are:

Progress on the proposed reverse merger with its listed subsidiary Thyrocare, the company’s ability to reduce debt,  the company’s debt has reduced from ₹4,098 crore in FY24 to ₹2,033 crore in FY25, which is a good sign. Any new equity raised from PE investors, 360 One and Claypond Capital have already obtained CCI approval to invest in API. The overall investor sentiment on digital health startups that are currently losing money. Any news on the listing plans of the shares of PharmEasy on the NSE or the timeline for the proposed reverse merger with Thyrocare. For other high-risk, high-reward unlisted startup stories, also check OYO Unlisted Share Price, another well-known Indian startup that is currently on a journey to become profitable and list shares.

Business Segments

  1. Online Medicine Delivery:
    • Prescription verification and doorstep delivery via partner pharmacies.
    • 1–2% commission on sales.
  2. Diagnostic Services:
    • Partnerships with labs (including Thyrocare) for test bookings.
  3. Healthcare Products:
    • Sales of supplements, skincare, and ayurvedic items.
  4. Teleconsultations:
    • Remote doctor consultations via proprietary tech platforms.

Financial Highlights (2021–2024)

  1. Revenue Decline: Revenue fell from ₹5,729 crore (2021) to ₹5,664 crore (2024), reflecting post-pandemic demand normalization.
  2. EBITDA Improvement: Losses narrowed by 72% from -₹2,345 crore (2021) to -₹646 crore (2024) due to cost rationalization.
  3. Asset Optimization: Fixed assets reduced by 28% (₹1,025 crore in 2021 to ₹734 crore in 2024), indicating leaner operations.
  4. Debt Surge: Borrowings doubled from ₹2,585 crore (2022) to ₹4,098 crore (2024), raising interest costs (₹728 crore in 2024).
  5. Net Loss Trends: PAT improved from -₹3,999 crore (2022) to -₹2,533 crore (2024), but NPM stayed negative (-44.72% in 2024).
  6. Inventory Management: Inventory reduced by 27% (₹761 crore in 2021 to ₹556 crore in 2024), enhancing working capital efficiency.

Pharmeasy Unlisted Shares Considerations

Pharmeasy unlisted shares appeal to investors betting on India’s digital healthcare boom. The company’s market leadership, Thyrocare synergy, and vast reach position it for long-term gains. However, risks include:

  • Profitability Challenges: Persistent losses and negative OPM (-11.41% in 2024).
  • Debt Servicing: Rising finance costs (₹728 crore in 2024) strain cash flows.
  • Regulatory Risks: Compliance with healthcare and e-pharmacy regulations.

Key Valuation Drivers:

  • Thyrocare Integration: Leveraging diagnostic revenues to offset medicine delivery losses.
  • Funding Lifeline: Ability to secure additional capital for expansion.
  • Margin Recovery: Achieving breakeven EBITDA through scale and cost controls.

Unlisted shares’ pricing hinges on private market sentiment, sector growth prospects, and Pharmeasy’s path to profitability.

PharmEasy Unlisted Shares Review:  Honest Review

A balanced review of PharmEasy unlisted shares based on publicly available financial performance data.

What it has going for it:

The largest digital healthcare platform in India, with a presence in 18,587+ PIN codes, including rural India. Revenue has stabilised at around ₹5,600-5,800 crore in FY24 and FY25 after a sharp decline in FY23. EBITDA losses have reduced significantly – from a loss of ₹2,345 crore in FY21 to a loss of ₹842 crore in FY25. The company’s debt has reduced meaningfully in FY25 from ₹4,098 crore to ₹2,033 crore, which is a very positive sign. The Thyrocare deal has given the company a profitable diagnostic business as a platform. The entry of new PE investors, who have obtained CCI approval to invest in API, is a good sign.

What to keep an eye on:

The company is still losing money. PAT was at a loss of ₹1,572 crore in FY25. Four out of five original co-founders have resigned from active management roles. PharmEasy Share Price NSE Listing Status Has Not Yet Been Confirmed Despite Ongoing Plans for an IPO PharmEasy Unlisted Shares List of Risks Is Long and Worrying, from Regulatory Compliance to Cash Burn and Competition from Tata’s 1mg and Apollo Pharmacy.

PharmEasy Unlisted Shares Review

PharmEasy Share Price NSE: Is It Listed on the NSE PharmEasy’s share price NSE search results are what many investors are looking for. Unfortunately, PharmEasy’s share price and NSE listing status is disappointing. No, PharmEasy, or API as it’s now known, is not listed on either the NSE or BSE. The PharmEasy unlisted shares NSE search results are more a case of hoping against hoping. PharmEasy had filed a DRHP with SEBI in 2021 to raise ₹6,250 crores through an IPO. The company withdrew the DRHP in 2022 as market conditions deteriorated and the company’s losses increased. Today, PharmEasy is looking at a reverse merger with Thyrocare as an alternative listing route. If you are interested in seeing how exchange infrastructure firms are listed as unlisted shares compared to NSE Unlisted Share and MSEI Unlisted Share.

PharmEasy Share Price Target: Long-Term Perspective

For all investors seeking to get a better understanding of the PharmEasy share price target, it’s imperative to note that this is not a normal investment; rather, this is a turnaround play. The share price of PharmEasy will solely be dependent on three factors: the company’s EBITDA breakeven point, the reduction of debt to manageable proportions, and a concrete listing route via reverse merger with Thyrocare or a fresh IPO. If all these factors come into play, the PharmEasy API Holdings share price today has the potential to reroute significantly from its current position, considering its sheer size and dominance in the digital healthcare space. However, if losses continue and the listing gets delayed even further, there are risks involved as well. This is a high-risk, high-reward unlisted share that can only be bought by investors who are willing to take that potential into account. For a comparison with another well-known Indian startup in the unlisted share space, please check the OYO unlisted share price that’s also on a similar journey from losses to profitability and a potential listing in the future.

Disclaimer* This research has been conducted on available data. Investors are advised to perform their own research and due diligence before making any investment decisions. We are not responsible for any financial losses or inaccuracies in the data provided

Pros

  • Market Leadership: Largest digital healthcare platform by GMV (RedSeer, 2021).
  • Pan-India Reach: Services available in 18,587+ PIN codes, including rural areas.
  • Strategic Acquisitions: Thyrocare acquisition (66% stake) strengthened diagnostic capabilities.

Cons

  • Consistent Losses: Negative EBITDA (-₹646 crore in 2024) and PAT (-₹2,533 crore in 2024).
  • High Debt Burden: Borrowings surged to ₹4,098 crore in 2024, straining liquidity.
  • Reliance on Funding: Dependent on equity injections to offset cash burn.
HCIN Networks

Key Details

INE0DJ201029
FieldValue
Company NameAPI Holdings Limited
CINU60100MH2019PLC323444
ISININE0DJ201029
StatusActive
Company TypePublic Limited Company
CategoryCompany limited by shares
Paid Up Capital6,142,040,000.00

Financials

P&L 2024202320232022
Revenue 1,059.231,423.256,699.775,781.00
PAT -2,157.06-5,285.28-5,211.73-3,992.50
Net Profit -2,157.06-5,285.28-5,196.22-3,971.43
Ratio 2024202320232022
ROE %-95.53%-321.46%-249.07%-59.61%
Net Worth2,257.921,644.152,092.476,697.29
No Data
Cash Flow 2024202320232022
Operating Cash Flow -17.60-130.95-744.17-2,589.37
Investing Cash Flow -1,696.57-2,267.78-72.28-5,789.21
Financing Cash Flow 1,882.682,398.39853.498,305.37
Net Cash Generated 168.50-0.3437.03-73.21
Cash At End 222.7454.24193.90156.88
Item 2024202320232022
Fixed Assets 14.2848.10492.00560.87
Investments 3,383.313,380.49218.97311.80
Inventory 45.9669.73688.16761.24
Other Assets 2,825.851,995.405,927.278,879.79
Total Assets 6,310.185,543.508,406.6011,320.32
Item 2024202320232022
Share Capital 649.70614.20614.20614.20
Reserves 1,608.231,029.941,478.276,083.08
Borrowings 3,326.383,113.244,147.922,681.36
Trade Payables 40.4445.37413.41458.88
Other Liabilities 685.44740.751,580.901,543.99
Total Liabilities 4,052.263,899.366,142.234,684.23

Promoters or Management

ShareholderHolding %
NASPERS VENTURES BV12.48
MACRITCHIE INVESTMENTS PTE LTD11.24
TPG GROWTH V SF MARKETS PTE. LTD.6.90
EVERMED HOLDINGS PTE LTD6.08
CDPQ PRIVATE EQUITY ASIA PTE. LTD.4.30
LIGHTROCK GROWTH FUND I S A SICAV RAIF3.66
BESSEMER INDIA CAPITAL HOLDINGS II LTD3.23
DR VELUMANI A2.66
360 ONE SPECIAL OPPORTUNITIES FUND - SERIES 122.65
TIMF HOLDINGS2.55

Annual Reports

[ninja_tables id=”1875″]

DRHP

Powered by our people

Manya

Live Chat

Riya

Live Chat

Sujal

Live Chat

Frequently Asked Questions

1. Explain Pharmeasy’s business model?
The company plan is really clear-cut and basic. It links distributors, suppliers, and buyers. Through the application and website, the buyer can select services like medicine, health-care products, scheduling diagnostic tests, etc. They receive a 1-2% commission on the sale of medications, advertising funds for showcasing goods from other pharmaceutical, nutraceutical, and other businesses, and revenue from diagnostic testing.
2. What us the revenue split of Pharmeasy?
Sale of Goods contributes 90% to the revenue of Pharmeasy whereas rest is contributed by sale of services.
3. What are the recent developments in Pharmeasy?
Three of PharmEasy’s co-founders, Dharmil Sheth, Dhaval Shah, and Hardik Dedhia, have stepped down from their daily management roles, while Harsh Parekh will also be leaving the company. The fourth co-founder, Siddharth Shah, will continue to lead the company as CEO.
4. Will any private equity fims acquire any stake in API Holdings?
360 One, Claypond capital have obtained CCI nod to purchase share in API Holdings.
5. Has there been any acquisitions by Pharmeasy?
Pharmeasy in the past has acquired stake in companies such as Thyrocare, Medlife.
6. What are their plans for listing?
Pharmeasy is considering a reverse merger with its publicly listed subsidiary, Thyrocare, as part of its plan to relaunch its IPO in the coming months. This strategy aims to streamline operations and enhance investor confidence by leveraging Thyrocare’s existing public listing. A reverse merger is when a private company becomes a public company by purchasing control of the public company. Reverse mergers allow a private company to become public without raising capital, which considerably simplifies the process.
Where can I find the PharmEasy unlisted shares list?
The list of PharmEasy unlisted shares is available with unlisted share brokers, who deal in pre-IPO shares, and from whom one can get information about buying API Holdings shares.
Is PharmEasy listed on NSE?
No, PharmEasy is not listed on any stock exchange, and if one searches for “PharmEasy share price NSE” or “PharmEasy unlisted shares NSE,” it is evident that there is a huge interest in this company among investors, but currently, it is unlisted.
What was the PharmEasy unlisted shares price in 2021?
In 2021, the price of PharmEasy unlisted shares was around 665, which is a very high price and shows the confidence of investors in this company and their high expectations from its IPO, which was to be announced soon.
What factors affect PharmEasy API Holdings' share price today?
The price of API Holdings’ PharmEasy share price today is influenced by various factors, such as debt reduction, becoming profitable, raising funds from investors, and updates about their IPO or reverse merger with Thyrocare.
What is the PharmEasy share price target?
The PharmEasy share price target will depend on factors such as achieving EBITDA breakeven points, reducing debt levels, and successfully listing through an IPO or reverse merger. This investment opportunity can be seen as a turnaround play rather than a growth play.
What could be the PharmEasy share price target 2030?
The PharmEasy share price target for 2030 will depend on factors such as long-term profitability, leadership in the digital healthcare space, and a successful listing. This investment opportunity will be purely speculative in nature.
Can I buy PharmEasy unlisted shares now?
Yes, PharmEasy unlisted shares can be purchased from authorised dealers in the private market. Investors need to carefully assess the risks involved in such an investment opportunity.
Why are investors still interested in PharmEasy's unlisted shares?
Despite facing challenges, PharmEasy has a strong market presence. Also, PharmEasy’s financial performance has been improving. This has encouraged investors to invest in PharmEasy’s unlisted shares. PharmEasy’s listing will re-rate its unlisted shares’ price. This may be a reason why investors are interested in PharmEasy’s unlisted shares.
Is investing in PharmEasy unlisted shares risky?
Yes, PharmEasy’s unlisted shares investment opportunity can be considered a high-risk investment. PharmEasy’s financial performance remains in the red. Also, PharmEasy faces competition. PharmEasy’s listing plans are uncertain. This investment opportunity can be considered suitable only for risk-takers.

Unlisted Market Blogs

Read the latest blogs and trends in the market regarding Unlisted shares

  • May 26, 2026

How Unlisted Share Demand Changes During Bull and Bear Markets

  • May 25, 2026

Garuda Aerospace Eyes Pre-IPO Funding Ahead of Public Market Debut

  • May 22, 2026

How Market Sentiment Influences Unlisted Share Activity

  • May 18, 2026

Lava Warns of Mobile Affordability Crunch

  • May 18, 2026

NSE IPO Buzz Pushes Unlisted Share Demand

  • May 18, 2026

OYO Unlisted Shares: Why Investors Still Track OYO Closely

Delisted Stocks Logo

106, 1st Floor, D-Mall, Netaji Subhash Place, Pitampura, New Delhi, Delhi – 110034

Facebook Instagram Linkedin X-twitter Youtube Telegram

Useful Links

  • About Us
  • Current Offerings
  • Unlisted Share
  • Procedure
  • News
  • Faq

Our Policy

  • Career
  • Terms of Use
  • Privacy Policy
  • Disclaimer

Contact Us

  • +91 9821677100
  • +91 8882415864
  • +91 8368304039
  • ops@delisted.shantanusingh.in

Disclaimer* Investors are advised to perform their own research and due diligence before making any investment decisions. We are not responsible for any financial losses or inaccuracies in the data provided.

All Rights Reserved | © 2026 Delisted Stocks | Managed by EGS
  • Home
  • Current Offerings
    • Unlisted Share
  • Procedure
  • About Us
  • Blogs
    • What’s New
  • Contact Us