PharmEasy founder Siddharth Shah buys apartment in Mumbai for Rs 40 crore

Siddharth Shah, founder of online pharmacy chain PharmEasy, which recently acquired Thyrocare, has bought an apartment in Mumbai’s Khar West for Rs 40 crore, documents accessed by Zapkey.com showed.

The sixth-floor apartment is spread across an area of 3963 sq ft and comes with three car parking slots, the documents showed. While the agreement was signed on March 31, the last day of the stamp duty waiver in Maharashtra, the property was registered on August 20, 2021.

A stamp duty of Rs 1.5 crore was paid by Shah for the property. The unit is located in a project named Wadhwa Samarpan by Mumbai-based real estate firm, Wadhwa Group, off Carter Road in Khar West.

Also Read: Wadhwa family buys apartment in own project for Rs 80 crore in Mumbai’s Khar

Shah has bought the unit Raghuleela Estates, a subsidiary of the Wadhwa Group.

There was no response from Shah.

PharmEasy was in the news recently for its acquisition of Thyrocare and plans to launch an IPO worth $9 billion.

In June this year, PharmEasy raised an additional $300 million from its existing investors, largely to fund its acquisition of Thyrocare. API Holdings is the parent company of PharmEasy.

API Holdings picked up a 66.1 percent stake in Thyrocare Technologies from its founder A Velumani for Rs 4,546 crore (about ₹1,300 per share). This was also the first-ever acquisition of a listed company (Thyrocare), by an Indian unicorn.

This was PharmEasy’s third acquisition after Ascent Health and Wellness and e-pharmacy firm Medlife.

Also Read: Abhishek Bachchan sells luxury apartment in Mumbai for Rs 45.75 crore

Shah has been quoted as saying that once the acquisition of the diagnostics company is complete, PharmEasy will aim to have its initial public offering (IPO) within six to 18 months.

In July, promoters of Mumbai-based real estate firm, Wadhwa Group, bought an apartment spread across three floors in their own project Wadhwa Samarpan for around Rs 80 crore, documents accessed by Zapkey.com showed.

The apartment spread across an area of 5,254 sq ft was registered on July 30, 2021.