Aditya Puri, the former CEO & MD of HDFC Bank, has joined the board of medicine delivery platform PharmEasy, and soon be chairing it, sources said.

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The appointment comes ahead of a blockbuster IPO planned by PharmEasy’s parent company API Holdings.

“Aditya Puri’s vast experience will help scale up the company. Healthcare has huge potential and can grow as banks did in the country,” a source familiar with the development said.

PharmEasy declined to comment on the appointment. “As a policy, we don’t comment on market speculation,” it said in an emailed reply to Moneycontrol. Aditya Puri did not respond to an e-mail query

Aditya Puri’s Second Innings

Aditya Puri recently announced an investment in PNB Housing Finance along with Carlyle and other investors. Puri will be joining the board of PNB Housing as an investor nominee. He joined Carlyle as a senior advisor.

Earlier, Strides Group appointed Puri as the chairman of the board of Stelis Biopharma, biotech arm of Strides Pharma.

Induction of Aditya Puri, acquisition of Medlife is in the run-up to PharmEasy’s IPO. Sources suggest that the medicine delivery platform aims to list in Q4FY22 and expects over $5 billion valuation after the Medlife acquisition.

PharmEasy’s last round of fundraising in April this year valued at over $1.5 billion, giving it the coveted position in India’s coveted Unicorn club.

(Edited by : Aditi Gautam)

First Published:Jun 2, 2021 3:09 PM IST