India is the third-largest pharmaceutical market globally by volume and is expected to reach $130 billion by 2030. Following the pandemic, health awareness has skyrocketed, making pharmacies a highly profitable venture. While starting an independent medical store involves regulatory hurdles and significant capital, buying a pharmacy franchise simplifies the process.
Franchisees benefit from brand recognition, established supply chains, and better pricing. Entrepreneurs can also opt for online pharmacy franchises, a growing trend in India’s $27+ billion pharma export ecosystem. This model offers lower setup costs and flexible hours but demands strong delivery logistics and seamless digital payment systems. In this article, we will explore the top pharmacy franchise businesses in India and how you can get started.
India’s Booming Pharmacy Market: A Glimpse into 2025 and Beyond
India’s pharmacy market is set to touch US$44.05 billion in 2025, and the momentum is only building.
With a steady CAGR of 4.8% (2025–2029), it’s projected to grow to a massive US$53.13 billion by 2029.
While the U.S. leads globally with over US$403 billion in revenue, India is rising fast, with US$30.28 billion in revenue per person in 2025 alone.
10 Best Pharmacy Franchise Options for Entrepreneurs in India
Starting a pharmacy franchise in India in 2025 can be a highly profitable and stable business, especially if aligned with the right brand. With rising health consciousness, booming e-pharmacies, and government support, the pharma retail sector is ripe for growth.
These top 10 brands offer a mix of affordability, brand recognition, and solid operational support. Moreover, they are ideal for both first-time entrepreneurs and seasoned investors; they ensure quicker setup and smoother operations.
DavaIndia Generic Pharmacy
Founded
1995
Stores
550+ across 23 states
Initial Investment
INR 6–7 lakhs
Franchise Fee
INR 1.5 lakhs
Space Required
Min. 200 sq. ft
DavaIndia – Top 10 Leading Pharmacy Franchise Opportunities
DavaIndia, a venture by Zota Healthcare Ltd., is a fast-growing pharmacy chain focused on affordable generic medicines. With the same active ingredients as branded drugs, DavaIndia offers quality healthcare at a fraction of the price. Since launching its first store in 2017, it has scaled rapidly across India. Ideal for entrepreneurs interested in pharma, ayurveda, or nutraceuticals, this low-investment franchise offers strong margins and rising consumer demand.
MedPlus – Top 10 Leading Pharmacy Franchise Opportunities
MedPlus is one of India’s largest and most trusted pharmacy chains, offering medicines, diagnostics, and general wellness products. With a hybrid offline-online presence, it provides franchisees access to its centralized procurement system, tech platform, and customer loyalty programs. Ideal for those seeking scale and consistency.
SastaSundar Healthbuddy
Founded
2013
Stores
200+
Initial Investment
INR 5–8 lakhs
Franchise Fee
INR 2 lakhs
Space Required
Min. 150 sq. ft
SastaSundar – Top 10 Leading Pharmacy Franchise Opportunities
SastaSundar offers both online and offline pharmacy solutions with a focus on affordable, authentic medicines. Backed by Flipkart (Walmart), it combines digital convenience with retail reach. The “Healthbuddy” franchise model allows partners to offer medicines, wellness products, and lab tests under one roof, making it ideal for Tier 2 and Tier 3 markets.
PharmEasy
Founded
2015
Stores
250+
Initial Investment
INR 11–12 lakhs
Franchise Fee
INR 2.5–3 lakhs
Space Required
250–300 sq. ft
PharmEasy – Top 10 Leading Pharmacy Franchise Opportunities
PharmEasy, one of India’s top e-pharmacy platforms, has entered the offline space with tech-integrated retail stores. Franchisees benefit from PharmEasy’s strong brand recall, tech support, and online-to-offline customer flow. It’s ideal for those looking to enter a future-ready pharmacy model backed by deep digital capabilities.
Care Pharmacy – Top 10 Leading Pharmacy Franchise Opportunities
Care Pharmacy offers a wide range of medicines, surgicals, and personal care products, with a focus on affordability and community trust. It supports its franchisees with inventory sourcing, digital billing tools, and staff training.
Living Healthy 24
Founded
2016
Franchising Since
2019
Initial Investment
INR 20 lakhs onwards
Space Required
200–400 sq. ft
Living Healthy 24 – Top 10 Leading Pharmacy Franchise Opportunities
Living Healthy 24 is an integrated healthcare service brand launched by Culmination Healthcare Pvt. Ltd. Built around the vision of “Healthcare for All,” the brand offers a complete suite of services, including authentic medicines, diagnostic tests, and doctor consultations, all under one roof. It is also set to expand its digital presence through a health portal and mobile app to enhance accessibility and convenience for users.
Sanjivani Pharmacy
Founded
2006
Franchising Since
2015
Franchise Units
200+
Initial Investment
INR 13–15 lakhs
Franchise Fee
INR 2.5 lakhs
Sanjivani – Top 10 Leading Pharmacy Franchise Opportunities
Sanjivani Pharmacy is a fast-growing pharmaceutical retail chain offering a wide range of branded, generic, Ayurvedic, and wellness products. With its mission to provide affordable healthcare, the brand supports franchisees with supply chain access, store design, marketing, and operational training. Entrepreneurs can opt for offline retail outlets or explore the online pharmacy model, which the brand actively promotes in emerging markets.
EMEDIX
Founded
2016
Franchising Since
2018
Initial Investment
INR 5 lakhs onwards
EMEDIX – Top 10 Leading Pharmacy Franchise Opportunities
EMEDIX is a tech-enabled pharmaceutical retail brand committed to bridging the healthcare access gap between urban and rural India. Initially launched as an online pharmacy, EMEDIX now offers a hybrid model combining doorstep medicine delivery, digital prescriptions, and flexible payment solutions. It aims to make quality healthcare accessible even in remote regions by allowing customers to upload prescriptions digitally and receive timely deliveries.
Medspres
Founded
2019
Franchising Since
2021
Franchise Units
100+
Initial Investment
INR 6–8 lakhs
Franchise Fee
INR 1.5–2 lakhs
Medspres – Top 10 Leading Pharmacy Franchise Opportunities
Medspres is a rising player in India’s pharmacy franchise landscape, offering branded and generic medicines, wellness products, and healthcare essentials under one roof. Known for its competitive pricing and lean franchise model, Medspres supports partners with supply chain integration, inventory training, and store setup assistance. Its flexible franchise plans, low startup costs, and operational guidance make it an ideal opportunity for entrepreneurs in Tier 2 and Tier 3 cities looking for a stable healthcare business.
Medlife Pharmacy
Founded
2014
Franchising Since
2017
Franchise Units
800+
Initial Investment
INR 1–3 lakhs
Franchise Fee
INR 20,000
Medlife – Top 10 Leading Pharmacy Franchise Opportunities
Medlife International Pvt. Ltd., founded by Tushar Kumar and Prashant Singh, started as India’s largest online pharmacy, delivering over 20,000 medicines across 29 states. The brand recently diversified into offline retail by launching its Medlife Pharmacy franchise model, offering a low-cost entry for aspiring entrepreneurs.
Conclusion
The pharmaceutical industry in India is not just booming – it is undergoing a rapid transformation. With increasing healthcare awareness, rising demand in Tier 2 and 3 cities, and a massive shift towards digital healthcare, pharmacy franchises offer a rare blend of profitability, purpose, and scalability.
You can step into a recession-proof, high-growth industry with pharmacy franchises’ backing of trusted brands, proven business models, and strong supply chains, whether you’re a first-time entrepreneur or an experienced investor. Pharmacy franchises may be your best bet for combining business and impact, delivering essential medicines while building wealth.
How much investment is required to start a pharmacy franchise in India?
Initial investments typically range from INR 1 lakh to INR 20 lakhs, depending on the brand and store model.
Is opening a pharmacy franchise profitable in India?
Yes, opening a pharmacy franchise in India is highly profitable due to rising health awareness, increased demand post-pandemic, and growth in e-pharmacy trends.
What is the minimum space required for a pharmacy franchise in India?
The required space typically ranges from 150 to 400 sq. ft, depending on the franchise.
Months after leaving the online pharmaceutical company, PharmEasy, co-founders Dharmil Sheth, Dhaval Shah, and Hardik Dedhia have launched a new business named “All Home” in an attempt to capitalise on the expanding home remodelling and interior design sector.
Co-founder Dharmil Sheth told a media outlet that the Mumbai-based business has raised an undisclosed amount of money from Bessemer Venture Partners at a valuation of more than $120 million.
Prominent angel investors Shalibhadra Shah (Motilal Oswal), Niket Shah (Motilal Oswal), Siddharth Shah (PharmEasy), Kabir Narang (B Capital), and Ankur Gulati (Warburg Pincus) also participated.
All Home would provide brands across categories including furniture, sanitary ware, kitchen and wardrobe, and home hardware to develop an omnichannel platform, Sheth added. With labels like Colour Coats, House of W, and Fiamarc, the platform is already up and running.
Changing the Way India Lives-All Home
The co-founders jointly said that “makaan” is the next consumer wave in India, following roti and kapda, when discussing the enormous potential of the home sector.
They further added that across residences, workplaces, and urban infrastructure, All Home is creating reputable brands that reflect the way people in India live, work, and upgrade. Although consumers frequently lack access to the right channels and products, they are becoming more and more eager to invest in their living and working environments. This platform seeks to close this disparity, as per the founders.
To establish the new business, the three executives left PharmEasy’s daily operations in January. For the health tech company, which has suffered a sharp decline in valuation in recent years, this comes at a crucial moment. Temasek, TPG, Prosus, B Capital, GSV, and Think Investments are some of the investors in PharmEasy.
In recent years, India has seen a surge in the organised furniture and home improvement markets. The country’s home and household sector is predicted to reach $237 billion by 2030 at a compound annual growth rate (CAGR) of 10%, according to a Deloitte analysis published in September 2024. This growth is supported by changing consumer tastes and an emphasis on convenience.
Latching on the Opportunities Provided by the Interior Design Market
Anant Vidur Puri, a partner at Bessemer Venture Partners, claims that the growing ambitions and disposable incomes in India are driving a significant turning point in the home infrastructure and interior design industry.
Puri claims that despite the market’s size, it is still extremely fragmented and neglected, with customers and designers always confronting issues with efficiency, quality, and transparency.
All Home wants to make it easier to get goods at affordable costs by using a transparent procurement process. According to Sheth, the founders plan to use internet-led manufacturing and distribution to address the major inefficiencies in the current procurement process, which include the need for designers to coordinate with multiple vendors, lengthy turnaround times, a lack of design coherence, and inadequate after-sales support.
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The medicine industry has always been as disorganized as we can imagine. Though we were all pleasantly happy with the wholesale and retail market structure that the pharmaceutical industry has offered its customers, the digitalization of the same was evident. Thus, it happened.
With the digitalization of the medical industry, we can now order our medicines from a wide range of eCommerce medical stores online and get them delivered online without any hassles. One of the major players that makes online ordering of medicines easy is PharmEasy.
PharmEasy has developed a healthcare delivery platform to simplify and modernize the healthcare setup in India. The platform helps patients to stay connected with various local pharmacy stores and outlets. Data and technology are the driving factors behind a robust health and well-being ecosystem today and PharmEasy is leveraging both of them to strengthen healthcare in India.
If you are wondering “What does PharmEasy do?” then PharmEasy serves as an online pharmacy and handles the hassle-free delivery of medicines and other medical equipment. PharmEasy operates in several major cities in India. Shopping for medicines online has thus, become convenient and easy through PharmEasy. The company delivers medicine and other medical equipment to thousands of customers every day.
Recently, API Holdings, the parent company of PharmEasy, had its valuation reduced to $458 million in September 2024. This is a big drop of around 92% from its previous highest valuation of $5.6 billion in 2021. One of its investors, Janus Henderson lowered the value of its investment in PharmEasy by 91.8%.
PharmEasy’s parent company, API Holdings, is seeing a major shift as three of its co-founders—Dharmil Sheth, Dhaval Shah, and Hardik Dedhia—step away from active roles in the organization.
Read on to find out more about PharmEasy’s success story, founders and owners, net worth, business model, growth, competitors, revenue model, funding details, and acquisitions.
PharmEasy – Company Highlights
Startup Name
PharmEasy
Headquarters
Lal Bahadur Shastri Marg, Mumbai, India
Founder/Owner
Dharmil Sheth, Dr. Dhaval Shah
Founded
2014
Net Worth/Valuation
$458 million (November 2024)
Parent Organization
91streets Media Technologies/API Holdings Private Limited
Pharmacy is an e-commerce platform for the purchase of medicines and other healthcare-related equipment. Whenever one uploads a prescription on PharmEasy, it is then sent to a drugstore in their vicinity. The company uses a mobile app and web technology to offer the best quality healthcare products and essentials to its customers at affordable rates.
You might be thinking, “Ah! discounted products, they would be of cheap quality for sure.“ But no, a discount has nothing to do with compromise in terms of quality. The pharmacy provides top-notch products at par with the quality that you can find in reputed pharmacies and medical stores.
Once PharmEasy sends your medical prescription to the drugstore, a delivery agent collects the medicines from the drugstore while adhering to all sorts of precautions and guidelines. Your order is then packaged and eventually delivered to your doorstep.
PharmEasy – Industry
Along with all the industries of now, the medicine/healthcare industry has also been witnessing decent growth empowered by the penetration of new-age technologies and the internet. Internet users have already grown at a CAGR of 18.17% between 2015 and 2019 and are further expected to rise at a CAGR of 9.3% till 2028. Besides, the e-commerce transactions also increased by 26.2% in 2023.
The market of Indian e-pharmacies is predicted by a leading consulting firm to grow greater than 7X times between 2019 and 2023. It reached a total value of $394.09 million in 2024 and is expected to rise to $801.34 million by 2030, at a CAGR of 12.62%, which is fascinating, to say the least.
PharmEasy – Founders and Team
Dharmil Sheth and Dr. Dhaval Shah are the founders of PharmEasy.
Dharmil Sheth and Dhaval Shah
Dharmil Sheth
Dharmil is the Co-founder of PharmEasy along with being the Co-founder of API Holdings. He is also the founder and president of Ekagrata. Sheth also founded 91streets before founding PharmEasy. Dharmil is an Electronics Engineer with a Btech degree, after which he obtained an MBA in Marketing from IIM Ghaziabad. Techno Gravity Solutions and MakeMyTrip.com were among the first companies that Dharmil Sheth worked with in Business Development and as a Summer Intern respectively.
Dr. Dhaval Shah
Dr. Dhaval Shah has an MBBS from Rajiv Gandhi Government Medical College, after which he pursued an MBA from XLRI Jamshedpur. Shah has been the General Secretary at both of his colleges. He eventually became a Consultant at McKinsey & Company and then founded PharmEasy and API Holdings.
The team behind PharmEasy has set its sights on becoming India’s best healthcare delivery venture. The focus at the moment is digitization to the maximum possible extent. PharmEasy is a private company that is adding new employees to its task force every other day.
PharmEasy is undergoing a significant change as three co-founders of the parent organization, API Holdings—Dharmil Sheth, Dhaval Shah, and Hardik Dedhia—step back from active roles in the firm.
Siddharth Shah, the fourth co-founder, will continue to lead the company.
As per a company statement on 22 January 2025, the three co-founders will remain part of the group, align their shareholding for the long term, and continue as board members or observers, but they have chosen to step away from daily executive responsibilities.
PharmEasy – Startup Story
Dharmil Sheth, the founder of PharmEasy, and his doctor pal, Dr. Dhaval Shah came up with the idea of building an online pharmacy. Both of them agreed on the potential of technology in the healthcare sector and it is this idea that primarily gave rise to PharmEasy in 2014. Presently, the company extends its supplies to nearly 98% of the Indian pin codes.
The company wanted to achieve the mission of doorstep delivery of everything related to healthcare, which it is always on the verge of achieving. Digitization has become an integral component of India’s healthcare industry. Be it scheduling a doctor’s appointment or delivery of reports and medicines, every step in the industry has been digitized. A major chunk of the credit goes to the e-pharmacies like PharmEasy for this initiative. The “health commerce industry” in India is growing at unprecedented rates courtesy of these e-pharmacies.
PharmEasy – Name, Tagline and Logo
“Take it easy PharmEasy” says the tagline of the company.
PharmEasy Logonet
PharmEasy – Business Model
PharmEasy delivers medicines and other medical accessories across Indian towns and cities. It is like Grofers for medicine. The pin codes maintained by PharmEasy are used to identify pharmacies closest to the customers. Customers can either access PharmEasy’s website or use its mobile app to order items. They are entitled to discounts of up to 20% if they order using the mobile app, which further increases brand recognition and adds new customers to PharmEasy.
PharmEasy is an e-pharmacy, the processes of which are mostly online acting as a 3-way chain between the buyers, suppliers, and the distribution network.
Buyers – PharmEasy is a ready platform from which buyers can search for their medicines or healthcare accessories and buy them online without any hassles.
Suppliers – PharmEasy collaborates with a wide range of local suppliers and medical shops, all of which help the company arrange their stocks and keep them live online. Besides, the company also earns revenue from various pharmaceutical companies that want to showcase their products online and on the PharmEasy app as featured brands.
Distribution channel – PharmEasy operates with a vast distribution spread out all across the nation. This helps the company to deliver its products for a broad range of pin codes all over India.
Due to various rules and regulations set by the Indian government, the company doesn’t deliver Schedule H drugs.
Why do people abstain from e-pharmacies? Research has found that most people do this because they aren’t sure where the medicines are coming from. PharmEasy is dispelling this notion for good!
PharmEasy primarily earns by displaying the sponsored results of various pharmaceutical entities. These kinds of advertisements are found on the home pages of such organizations. Advertising is a major source of revenue and this e-pharmacy leverages it to the hilt. Besides, with the new-age strategies, you can now advertise your products, services, or business with little or no money and market your brand. Attractive discounts also contribute to PharmEasy’s revenue. Furthermore, PharmEasy earns commission from its customers for the healthcare products and medicines that are sold via the platform. The brand also earns through the delivery charges that get levied on the products.
PharmEasy – Funding and Investors
API Holdings, the parent company of PharmEasy, has raised INR 1,804 crore ($216 million) in a funding round led by Ranjan Pai’s Manipal Education and Medical Group (MEMG) along with its existing investors on 29 April 2024. However, this new investment comes with a 90% drop in the company’s valuation from its highest point. The valuation of PharmEasy as of September 2024 is $458 million, slashed 92% from the peak of $5.4 billion.
PharmEasy has received $1.7 billion in funding to date in over 14 rounds. PharmEasy had last raised a private equity fund from VestinWolf Capital Management after raising a pre-IPO round worth $354 million from a clutch of investors. Market volatility, low investor sentiments, and the funding winter are some of the popular reasons behind PharmEasy looking to raise funds at a lower valuation.
The primary round saw an infusion of the $354 million funding round was worth $204 million and led by Amansa Capital, Steadview Capital, OrbiMed, Abu Dhabi’s sovereign wealth fund ADQ, and more. In the second round of funding that PharmEasy received, the company mopped up around $150 mn from the partial exits of a bunch of existing angels and other early-stage investors like Fundamentum, Eight Roads Ventures, Bessemer Venture Partners, and others. PharmEasy, which is all set to file its Draft Red Herring Prospectus (DRHP) has also disclosed that over 20 senior employees, five founders, and some of the new investors had picked secondary shares at a valuation of $5.6 billion. The company was valued at $5.4 billion in February 2022. The company is yet to decide on its IPO round and will not be setting its pricing before the nod from SEBI.
Before this round where the company has further raised $354 million worth of funding in its Pre-IPO round of funding, split into 2 rounds, it raised a whopping $500 million round via its Series F funding round that was led by Arokiaswamy Velumani, valuing the company at $1.8 billion in June 2021.
Here are all the funding and investor details of PharmEasy to date.
Date
Series
Amount
Investors
April 29, 2024
Venture Round
$216 million
MEMG Family office, Existing Investors
Nov 7, 2022
Debt Financing
–
EvolutionX Debt Capital
November 1, 2021
Private Equity Fund
–
VestinWolf Capital Management
Oct 20, 2021
Venture Round
–
Trifecta Capital Advisors
October 18, 2021
Pre-IPO Round
$354 million
Amansa Capital, Fundamentum, Steadview Capital, Abu Dhabi’s sovereign wealth fund ADQ and more
July 7, 2021
Series F
$500 million
Arokiaswamy Velumani
June 17, 2021
Secondary Market
$20 million
B Capital
April 7, 2021
Series E
$390 million
Prosus Ventures, TPG Growth and others
November 27, 2019
Series D
$220 million
Temasek Holdings and others
September 26, 2018
Series C
$50 million
Eight Roads Ventures India and others
September 11, 2018
Debt Financing
$5.44 million
InnoVen Capital and more
February 28, 2018
Series C
$27.23 million
Eight Roads Ventures India, F-Prime Capital, and others
PharmEasy was reportedly valued at $5.4 billion in February 2022. Due to the exceptional growth that the company had seen, PharmEasy decided to reward the cofounders and employees by creating new employee stock options (ESOPs) for them.
The healthcare major had passed a special resolution, where it has declared that it would be allotting around 79,987 ESOPs to each of the five co-founders of the firm – Siddharth Shah, Dharmil Sheth, Hardik Dedhia, Karsh Parekh, and Dhaval Shah. The collective worth of all these shares making the Founders’ ESOP pool is estimated to be around INR 236 crores. PharmEasy has also additionally expanded its ESOP pool with INR 356 crore worth of new options for eligible employees. This new ESOP pool has reportedly been expanded with 603,103 equity shares. Moreover, PharmEasy has also amended its existing ESOP Scheme to align it with the SEBI regulations.
PharmEasy – Acquisitions
PharmEasy has acquired 3 companies –
Acquiree Name
Date
Deal Value
Aknamed
September 14, 2021
$144 million
Thyrocare Technologies
June 26, 2021
$605.70 million
Medlife
May 25, 2021
$250 million
Aknamed – A healthcare company that strives to streamline the supply chain of the industry in India. PharmEasy has acquired Aknamed on September 14, 2021. PharmEasy acquired the majority stakes of Aknamed for an initial investment of INR 308 crores ($41.90 mn). The company will be acquiring Aknamed completely in a few months in a deal size estimated to be around INR 1000 crores ($136.04 mn).
Thyrocare Technologies – Thyrocare is a full automatic diagnostic laboratory, which claims to be the first of its kind in India. PharmEasy acquired Thyrocare on June 26, 2021. In a definitive agreement where the company has acquired 66.1% stakes in Thyrocare, the deal size is mentioned at INR 4564 crores ($620 mn).
Medlife – Medlife is an online medicine supplier from Bangalore, India, which has facilities for home delivery. On September 22, 2020, the Competition Commission of India approved the merger of Medlife (Online Pharmacy) with PharmEasy. It is noted as the First Major Consolidation in this sector after the entry of Amazon and Reliance. According to this deal, PharmEasy’s Parent Entity will acquire 100% equity in Medlife and the promoters of Medlife will get a 19.95% stake in the entity. Though the talks of the acquisition began in August 2020, the CCI approval was received in September 2020, and it is not earlier than May 2021, 8 months after the CCI nod that PharmEasy finally announced the merger with its rival Medlife. From May 25, 2021, Medlife discontinued its operations and fully merged into the PharmEasy platform. The company acquired majority stakes in Medlife valued at $250 million.
PharmEasy – Challenges Faced
The company started its journey in the year 2014 and has now become a major player in the online pharmacy segment. However, PharmEasy didn’t witness overnight success. Challenges are inevitable and the mentioned e-pharmacy also had its share of problems. It was difficult for PharmEasy to deliver products without a prescription.
Knowing the medicines by their names wasn’t enough. A valid prescription was compulsory for supplying the products. Many didn’t want to upload their prescriptions fearing consequences. Furthermore, location tracking back then when the company started, was difficult for PharmEasy’s delivery agents. It is not like that anymore, though.
The company eventually overcame the challenges thrown at it and has grown tremendously since its inception in 2014.
PharmEasy Layoffs
PharmEasy laid off 40 employees, as per the reports on June 16, 2022. The company has laid off around 40 of the employees who were working with its subsidiary Docon Technologies during the week. These employees who were laid off mainly belonged to the sales department and hailed from Mumbai, Delhi, Chandigarh, Jaipur, and more. PharmEasy has offered a two-month salary for the employees as part of the severance package and is reportedly helping the employees too in getting new jobs. It was also announced that Docon Technologies would be rebranded to PharmEasy One and would then be a whole entity and that most of the Docon employees would be shifted to any of the API Holdings’ entities.
Customer acquisition of a company depends upon trust and faith. It’s a symbiotic relationship between how much the company is giving to its customers and how those users are benefitting in return.
Acquiring new users has not been problematic for PharmEasy ever since it overcame the initial hiccups and challenges. A solid user-retention rate has proved PharmEasy’s expertise in keeping customers satisfied.
PharmEasy – Partnerships
Swiggy
Swiggy plans to enter the online pharmacy market by delivering medicines in 10 minutes. Partnering with PharmEasy, it will leverage its infrastructure and regulatory framework via Instamart for rapid delivery of prescription and OTC drugs.
Besides, there are also other hospitals and chains like Apollo Pharmacy that are trying to boost overall sales via their online platform along with their brick-and-mortar stores. Most of the companies mentioned here are trying to reinforce their online delivery system of medicines. However, most of them are trailing PharmEasy.
PharmEasy – Growth and Revenue
PharmEasy Financials
PharmEasy Financials
FY22
FY23
FY24
Operating Revenue
INR 5,729 crore
INR 6,644 crore
INR 5,664 crore
Total Expenses
INR 8,491 crore
INR 8,974 crore
INR 7,254.8 crore
Profit/Loss
Loss of INR 2,731.7 crore
Loss of INR 5,211.7 crore
Loss of INR 2,533.5 crore
PharmEasy Financials
In 2023, PharmEasy had an operating revenue of INR 6,644 crore, and its total expenses were higher at INR 8,974 crore, leading to a loss of INR 5,211.7 crore. In 2024, their revenue decreased to INR 5,664 crore, and expenses also dropped to INR 7,254.8 crore, resulting in a smaller loss of INR 2,533.5 crore.
Dhaval Shah and Dharmil Sheth are playing a major role in this growth through excellent leadership and superior decision-making.
PharmEasy Financials
FY22
FY23
FY24
EBITDA Margin
-39.66%
-20.38%
-9.59%
Expense/Rupee of ops revenue
INR 1.48
INR 1.35
INR 1.28
ROCE
-32.11%
-27.12%
-15.71%
India’s IPO market slowed in 2022 after 2021 saw the largest amount of funds raised in at least a decade. API Holdings Ltd., owner of India’s largest online pharmacy PharmEasy, withdrew its preliminary filing for an initial public offering, citing market conditions and strategic considerations. PharmEasy had filed its DRHP with the market regulator SEBI and was planning to raise INR 6,250 crore through a fresh issue of shares on November 10, 2021. The existing investors of the company were not selling any shares in the upcoming IPO, as per the DRHP.
Furthermore, PharmEasy had announced that it would be looking for a pre-IPO fundraising of up to INR 1,250 crore via private placement after consulting with the BRLMs (Book Running Lead Manager). However, according to the latest news, PharmEasy was looking to slash its IPO valuation considering the volatility of the current market, as of February 19, 2022. PharmEasy currently partners with over 60K brick-and-mortar pharmacies from across the country and has served 20 mn+ patients since it was formed.
Finally, there is no shortcut to success and PharmEasy is a case in point. From being an unknown candidate in the online pharmacy space to becoming an established brand, Dharmil Sheth-founded PharmEasy has conquered varying obstacles to reach the zenith of success.
PharmEasy plans to launch an IPO in the future if its performance remains strong. The company is working to reduce its debt before going public. It is waiting for approval from the Competition Commission of India (CCI) to move ahead with its plans.
FAQs
Who is PharmEasy owner?
API Holdings Private Limited is the Parent Organisation of PharmEasy. Dhaval Shah and Dharmil Sheth are the Founders of PharmEasy.
How much is PharmEasy Revenue and Profit?
In 2023, PharmEasy had an operating revenue of INR 6,644 crore, and its total expenses were higher at INR 8,974 crore, leading to a loss of INR 5,211.7 crore. In 2024, their revenue decreased to INR 5,664 crore, and expenses also dropped to INR 7,254.8 crore, resulting in a smaller loss of INR 2,533.5 crore.
How PharmEasy work?
Customers can upload a prescription on PharmEasy, which is then sent to a drugstore in your vicinity. The package is then delivered to their doorsteps within the stipulated time.
How much is PharmEasy net worth?
API Holdings, the parent company of PharmEasy, had its valuation reduced to $458 million in September 2024.
Is the Pharmeasy office in Bangalore its headquarters?
The owners of API Holding, the company that operates PharmEasy, Dhaval Shah, Dharmil Sheth, and Hardhik Dedhia, are planning to launch a new consumer business. The managing director (MD) and CEO of PharmEasy, Siddharth Shah, has also made a personal investment in the new business. The creators have received additional funding from a few venture capitalists (VCs), who previously supported their business.
The founders also stated that they will no longer be involved in the day-to-day management of the e-pharmacy startup. For more than a year, this daily operational handover has been planned. With operational cash flow break-even in the most recent quarter, the founders are now happy that the business is doing well. According to a statement from Shah, Sheth, and Dedhia, certain outstanding leaders have now taken on the day-to-day duties of the brand as well.
Funders Holding up their Positions on the Board
The founders jointly said that they are still committed to the firm and will keep onto their shares for the long term for value creation, clearly outlining their respective perspectives on the ventures. Seth, Shah, and Dedhia will remain on the boards of API and Thyrocare. According to the statement, they would continue to be unwavering supporters of creating India’s top healthcare organisation and place their faith in Siddharth Shah and his staff.
The other four founders are still involved with the company, according to a statement from PharmEasy. They remain board members and observers and align their ownership for the long term. They intend to become less involved in active daily executive duties.
Well Planned Move by Founders
The new team has reached operational cash flow break-even, which has pleased the founders, who have been working on this transition for a few quarters. According to Siddharth Shah’s remark, the team is still doing a good job of handling all of its responsibilities. In March 2024, the founders informed Shah and the board that they wanted to launch their own business, according to media sources. The new business is unrelated to PharmEasy and operates in a non-competitive market.
One percent or less of the corporation is owned by each of the founders. In 2015, PharmEasy was founded. Nonetheless, the founders’ overall ownership ranges from 10% to more. The business has raised $688 million in total. In 2021, $300 million was raised in the largest investment round. After great effort, the company managed to raise INR 1,300 crore from Manipal Group member Ranjan Pai in 2023. Pai’s contribution is a component of the company’s INR 3,500 crore rights issue fundraising campaign.
However, PharmEasy’s valuation has significantly decreased in recent years from the $5.6 billion it brought in in 2021. Temasek, TPG, Prosus, B Capital, GSV, and Think Investments are some of the investors in PharmEasy.
Online pharmacy PharmEasy’s worth has fallen to about $456 million, a sharp 92% decrease from its previous peak of $5.6 billion. Additionally, the company’s worth has dropped by 18.57% since its latest fundraising in April, when it was valued at about $560 million. A renowned media house was the first to disclose this huge decline, quoting Janus Henderson, an investor in PharmEasy, who stated that his 12.9 million shares are now worth just over $0.76 million, which is less than the $9.4 million he originally invested.
The move follows the company’s earlier this year acquisition of more than $216 million in new funding. The company was valued at about $560 million at the time of the financing round, which was undertaken at a 90% valuation drop from its peak. Furthermore, PharmEasy’s present valuation appears to be much lower than the $600 million it paid to purchase the diagnostic lab chain Thyrocare in 2021.
The Root Cause of the Decline
After delaying a $843 million initial public offering (IPO) that was planned for 2021, PharmEasy‘s financial issues became apparent. After that, the business was under more and more pressure to control its debts, including a $300 million loan from Goldman Sachs that was challenging to pay back in a tighter market. PharmEasy responded to these difficulties by launching a rights offering and generating $417 million to pay off its debt and ease its financial strain. Notably, this rights offering gave current shareholders the opportunity to buy shares at a reduced price, which may dilute ownership for non-participants.
In 2023, Neuberger Berman was another investor to lower the value of their PharmEasy assets, bringing the company’s valuation down by 21% to $4.4 billion. PharmEasy was founded in 2015 by Dharmil Sheth, Dhaval Shah, Harsh Parekh, Siddharth Shah, and Hardik Dedhia. Its main online platform distributes medications, and its subsidiaries provide diagnostic services.
Recent Developments in PharmEasy
Due to a decrease in operating expenses and unusual items, the epharma company’s consolidated net loss in the fiscal year 2023–24 (FY24) was cut in half, reaching INR 2,531.1 Cr. In FY23, the company’s net loss was INR 5,202.5 Cr, a 51.35% decrease. Its operating revenue did, however, also decline. From INR 6,643.9 Cr in FY23 to INR 5,664.2 Cr in FY24, PharmEasy’s operating revenue decreased by 14.75%. This is the main reason why PharmEasy has recently seen a number of changes.
On August 16, 2024, ArisInfra Solutions, supported by the CEO of PharmEasy, submitted draft papers for an INR 600 Cr IPO, demonstrating continued efforts to generate money in the healthcare industry. Thyrocare, which is owned by PharmEasy, also revealed ambitions to extend its operations in northern India by purchasing Polo Labs’ pathology testing division.
The startup industry in India is growing faster than we could have imagined. They are now paving a new way for the future of India. Some popular startups that caught the eyes of everyone in the past few years are Zomato, BYJUs, Nykaa, and more. These are living proof of the evolution of startups in India.
These startups have been able to provide solutions to many of our problems. Along with this, they have been able to make huge progress for themselves as well. The startups in India are now generating a great amount of revenue and an increase in terms of their valuation.
The last two years have been full of ups and downs. The time has been mixed with old and new ideas. Many businesses could not cope well during the pandemic. On the other hand, many were able to reach their prime time. The Indian startup industry has grown in the past two years like never before. Startups like BYJU, Zomato, Nykaa, and more made India proud by entering the unicorn club.
Thanks to technology, continuous innovations, and passion for entrepreneurship, India is now the third-largest home for unicorn startups in the world with almost 100+ unicorn startups already established and many more are on the way to becoming unicorn startups.
Startups in India can secure a strong foot in India now due to new terms and policies installed by the government as well as the development faced by the Indian startup ecosystem. The startups in India have become the most potential eye-catchers for investors. With great funding at proper times, startups have been able to progress at a faster pace.
Here is the list of all Indian Unicorn Startup with their revenue, profit, and valuation:
Nykaa’s CEO and Founder Falguni Sanjay Nayar- StartupTalky
It is an Indian e-commerce platform launched in the year 2012 by Falguni Nayar. The company sells its products through three channels- website, app, and offline stores. It offers a wide variety of beauty, wellness, and fashion products.
Nayar made her company the first Indian unicorn startup led by a woman in 2020. The Firm Nykaa has revenue of INR 2,440 crores, in 2021. It has also announced revenue of INR 3,773 crores FY 2022.
This year in Q2 FY23, Nykaa’s net profit has reached 344% Y-o-Y to Rs. 5.2 crore. The company has also reported a 39% increase in its revenue which is Rs.1230 cr.
2. Swiggy
Revenue: INR 2,547 Crores in FY2021
Swiggy’s CEO Sriharsha Majety- StartupTalky
It is an online food ordering and delivery platform based in India. The Swiggy startup was started in the year 2014. The platform’s services are active in more than five hundred Indian cities like Delhi, Mumbai, Jaipur, etc.
The platform has taken a tech approach to handle logistics and provide solutions to customer demands. Swiggy generated revenue of Rs. 2,547 cr in FY21. This number was a 23% drop from their previous financial year 2020.
3. Zomato
Revenue: INR 4192.4 crore in FY2022
Zomato – A food delivery startup
It is an online food ordering and delivery company founded in the year 2008. From menus to reviews the platform provides you with all the information about its partnered restaurants and gets your delicious food delivered to your doorstep.
It was the first Indian startup to make its debut in the stock market. The Zomato Unicorn is considered one of the most successful startups in India with a revenue of INR 4192.4 crores, in Financial Year 2022. It has also announced its gross order value of INR 5,500 crores in Q3 FY 2022.
The above graph shows India’s Unicorn surge with its aggregate valuation.
4. BYJU’S
Revenue: INR 3,039.45 Crores in FY 2022
BYJU’S – The ed-tech startup
It is a global ed-tech startup founded in India in the year 2011. The platform is known to provide adaptive, engaging, and effective learning solutions to its students around the world. Online coaching has the school’s curriculum as well as training for exams like JEE, IAS, GRE, etc.
This education startup earned the status of the 13th largest unicorn in the world as per CB insights in December 2021. The startup BYJU’s had revenue of INR 3039.4 crores as of FY 2022.
5. Paytm
Revenue: INR 4,846 crores in FY 2022
Paytm – The Financial service providing startup
It is an Indian multinational technology startup that provides a digital ecosystem for consumers and merchants. Paytm was founded in the year 2010. The company offers payment services, commerce and cloud services, and financial services.
It enables users to make quick and safe UPI payments, book movie tickets, EMI payments, and more. This top Indian startup has a revenue of INR 3,187.6 crores for FY21. It has also generated revenue of INR 4846 crores in FY2022.
OYO – A full-stack technology providing a global platform startup
It is an Indian multinational online travel agency for homes and hotels. It was founded in the year 2012. The OYO platform offers hotel rooms at affordable rates all across South Asia. It also offers services like complimentary breakfast services, holiday packages, rewards, etc.
The platform has made travel experiences for people easy and reasonable. It has a revenue of INR 4,157 crores, in 2021.
7. Udaan
Revenue: INR 8450 Crores in FY 2022
Udaan – A trade processing startup
It is a network-centric B2B e-commerce platform founded in the year 2016 in India. The startup helps traders, manufacturers, and wholesalers to connect directly in one place. Udaan startup also facilitates secure payments and smooth logistics.
Udaan has been successful in solving the problems of trade for businesses across India. It has a revenue of INR 5,919 Crores in FY 21. However, in FY22 Udaan has shown Rs.8450 cr in revenue with a loss reaching Rs.3030 cr which is 22.1% more compared to the FY21 loss of Rs. 2482.
8. Digit Insurance
Revenue: INR 5,268 Crores in FY 2022
Digit Insurance – An insurance-providing startup
It is an operator of an insurance brokerage firm founded in the year 2016 in India. The Digit Insurance company offers insurance for commercial and non-commercial vehicles, property, and travel.
Digit Insurance is one of the leading insurance companies in the nation enabling clients to make informed decisions and get themselves insured. It has a revenue of INR 5268 crores in FY22.
9. PharmEasy
Revenue: INR 4363 Crores in FY21
Pharmeasy – The online drug/medicine delivery startup
PharmEasy is an Indian e-pharmacy startup, founded in the year 2015. PharmEasy sells medicine and healthcare products, along with that it also connects local clinics to medical stores for health equipment supply.
In order to expand business PharmEasy has started connecting doctors to patients online and jumped into Lab testing operations now. Though PharmEasy total revenue has increased 48% to Rs 6,461.1 crore in FY22 from Rs 4,363.2 crore in FY21.
But it’s a loss that has been widening. The company has now started to take steps to make it profitable in the coming years despite having fierce challenges from its competitors.
10. Dream11
Revenue: INR 2,554.4 Crores for FY2021
Dream11 – A fantasy sport startup
It is a fantasy sports platform based in India, founded in the year 2008. Dream11 startup enables users to play fantasy sports like cricket, kabaddi, hockey, basketball, and football.
This has been the first Indian gaming company to become a unicorn. The gaming startup has revenue of INR 2554.4 crores for the Financial Year 2021.
Conclusion
The startups in India have seen massive growth in the past decade. Many startups were able to attain the status of unicorn in recent times making India the third-largest hub for unicorn startups in the world.
India has always been famous for its successful talent in technology, medical fields, and more. Now, the nation is shining bright with its batch of growing startup industry.
FAQs
What is a Unicorn company in India?
A unicorn company stands for the term for any privately owned company having a value of more than $1 billion.
Which city has the most startups in India?
At present times, the city of Bengaluru claims the position of the Indian city having the most number of startups in India.
Is BYJUS profitable?
No, the ed-tech platform BYJUS is highly appreciated for the introduction of a new concept in the world of education. It is counted among the most profitable unicorn in India.
Are Indian unicorns profitable?
India contains more than 100 unicorns on its record. However, not every unicorn is counted as a profitable company. It is estimated that out of 100 only 18 unicorns are profitable.
Which is the biggest startup in India?
India is home to many valuable startups. Some of the biggest startups in India are Urban Company, Paytm, Classplus, Razorpay, etc.
Do you know which industry saw a major boost during the COVID-19 Pandemic?
During the outbreak where most of the industries were drastically falling, there was one industry that skyrocketed and acted as a catalyst for innovation.
I am talking about the telemedicine industry.
When the COVID-19 cases were increasing rapidly telemedicine was the only hope for the government and doctors to provide healthcare to the patients.
According to Statista, in 2019 the telemedicine market size in India was around 829 million U.S. dollars.
This figure is expected to reach 5.4 billion U.S. dollars by 2025.
This huge figure shows us that the telemedicine industry will be growing at a rapid speed.
But, where does India stand in the telemedicine industry?
When doctors use telecommunication technology like phone calls, email, SMS/chat, and video calling to diagnose and treat patients remotely it is known as telemedicine.
Booking a video call consultation with a doctor using Practo or Pharmeasy or transfer of medical images between different hospitals for diagnosis are all examples of telemedicine.
The above graph shows the telemedicine market size in India as per the data shared by DataLAbs. The market is estimated to cross 5.4 million US dollars by 2025
Telemedicine Industry in India During Pandemic
Telemedicine is not a new concept in India. It was introduced by the Indian Space Research Organization (ISRO) in 2001.
The Health Ministry also deployed a National Telemedicine Task Force in 2005 under the Ministry of Health and Family Welfare (MoHFW).
But still many health centers and even Indians never took telemedicine seriously.
Patients felt that they won’t get a proper diagnosis and treatment if they consulted a doctor via video calling and preferred meeting the doctor in person.
Although when coronavirus happened in India everything completely changed.
Within just 4 months of coronavirus hitting India, in June 2020, the country had already crossed the 5 lakh corona cases mark with a death toll of 15,619.
Since India is the 2nd most populated country in the world coronavirus cases were increasing rapidly.
There was a lack of health care, beds, and oxygen all over the country.
Situations in rural areas were even worse. In rural areas hospitals needed 3-5 times more nurses and 5 times more paramedics.
During such severe times, telemedicine helped doctors in diagnosing patients virtually with just a smartphone or laptop.
When the concept of social distancing started emerging people understood that telemedicine would guarantee them maximum safety against the virus.
The behavioral pattern of people toward telemedicine completely changed.
In India people usually visited doctors when they were sick. But, due to the outbreak people started emphasizing health checkups.
People started accepting teleconsultation, teleradiology, telepathology, and e-pharmacy.
A report by Practo suggested that the online consultation had increased by 500 percent between March 1 to May 31, 2020.
Over 2 crore Indians accessed healthcare online during those 3 months as per the report.
This shows how much terror the coronavirus created in the minds of Indians within a month.
Practo witnessed 80% of first-time telemedicine users on its app and a 67% drop in in-person visits. Indians consulted doctors virtually 2 times per month.
As per the survey conducted by EY Parthenon’s life, the above graph shows the comparison and willingness of different age group people to have a telehealth visit in percentage
Government’s Efforts to Strengthen Telemedicine Industry
To be very frank, the Indian government never made any efforts to strengthen the means of telemedicine around the country.
But, due to the coronavirus, the government started deploying telemedicine services across various health centers.
You will be shocked to know that the Indian government never released any guidelines on how telemedicine would work around the country.
But, due to the drastic negative impact of coronavirus around the country, the government on 25th March 2020 issued ‘Telemedicine Practice Guidelines’ that provided a framework for the practice of telemedicine.
These guidelines provided all the norms and protocols for the telemedicine practice like doctor-patient relationship, treatment, informed consent, continuity of care, privacy and security of patient’s details and medical records, and much more.
The guidelines also mentioned which technology and tools will be used to treat patients.
The government also developed a telemedicine app, eSanjeevani to give free OPD services to Indians. In March 2022, eSanjeevani completed 3 crore teleconsultations.
The teleconsultation market in March 2020 was $26 million which grew to $163 million in March 2021.
It is expected for the market to grow by 72% which is about $836 million by March 2024.
According to the ‘Outpatient Healthcare Market in India’ study by Praxis Global Alliance, the total number of consultations in India in FY2021 crossed 4 billion. Furthermore, $26 billion were spent on outpatient prescriptions.
The report also found out that the outpatient doctor consultation spend is valued at $10.4 billion.
General physicians are in high demand, accounting for 60 percent of the consultations.
Top 3 Key Players in Telemedicine Industry in India
There are many new startups emerging in the field of telehealth and telemedicine.
Some of them have revolutionized the industry and many more are on the way to create a new norm for people.
Let’s see some of the best Indian telemedicine companies.
PharmEasy
PharmEasy Website
PharmEasy is a healthcare super app headquartered in Mumbai that provides consumers with a wide range of medicines, comprehensive diagnostic test services, and teleconsultations.
Siddharth Shah founded this company in 2014.
The company has 25 million registered users on its app.
PharmEasy earned a revenue of $315.99 million in FY2021. The company has got total funding of $1.6B.
In May 2021, the company acquired Medlife, another healthcare app that provides its users with pharmacy, diagnostics, and e-consultation.
1mg was established in 2015 by the joint efforts of Prashant Tandon, Gaurav Agrawal, and Vikas Chauhan.
The 1mg company provides healthcare services like e-pharmacy, diagnostics, e-consultation, and lab tests.
The company is headquartered in Gurgaon, India.
In June 2021, TATA Digital, a subsidiary of TATA Group acquired a 55% stake in the company.
1mg has raised total funding of $204.6M. In FY2021, the company recorded a revenue of Rs 357.9 crore.
Practo
Practo Website
Practo provides medicine delivery, online consultation, and diagnostic tests via Practo labs.
It also has a comprehensive medical directory that has verified information about 1,00,000+ doctors.
Shashank ND and Abhinav Lal founded this company in 2008. The head office of this company is in Bengaluru.
Recently, the company has also started 50+ Practo Care Surgery clinics in six key cities (Bengaluru, Mumbai, Pune, Delhi-NCR, Hyderabad, and Ahmedabad).
The clinics have experienced surgeons that provide General Surgery, Proctology, Gastrology, and Urology treatments to the patients using advanced medical procedures.
Practo has total funding of $228.2M.
Future of Telemedicine in India
In September 2021, Prime Minister Narendra Modi launched ‘Ayushman Bharat Digital Mission’ to digitize the health ecosystem.
Under this mission every Indian will receive a digital health ID which will contain details of their diseases, tests taken, doctors visited and the medicines taken.
This ID will help hospitals, insurance companies, and citizens to access health records electronically.
Citizens can get their health ID free of cost.
Doctors will give digital prescriptions which will prevent unauthorized doctors from treating people.
Another aim of the program was to establish Healthcare Professional’s Registry (HPR) and Healthcare Facilities Registry (HFR).
These can allow electronic access to medical professionals and health infrastructures.
A special announcement was made during the union budget by the government. The government allocated 86200.65 crores for the health sector with a hike of about 16% over Rs 73,931 crore in 2021-2022.
The reason behind this huge hike was the coronavirus.
The government wants no stone unturned when it comes to strengthening the country’s health sector.
Another effort made by the government was to roll out the Tele Mental Health Programme. The prime focus of this program was to build a network of 23 excellent telemental health centers.
The National Institute of Mental Health and Neuro-Sciences (Nimhans) will be allocated as the nodal center.
While the International Institute of Information Technology-Bangalore (IIITB) will provide technical support.
This program was essential because most of the time mental health is ignored by a lot of people.
Many people don’t even know that they are going through a mental crisis. The program will help in preventing mental issues across all age groups and genders.
All these programs and the government’s increased funding in the healthcare sector will surely push the field of telemedicine in India to the next level.
Conclusion
As you can see, the telemedicine industry is growing at a rapid speed. In the future, you will see many people booking online consultations with doctors.
Indians must adapt to this new method because telemedicine helps in saving costs and time.
Most importantly, it also reduces the wastage of gloves and masks which are needed when doctors and patients meet in offline mode.
This does not mean the traditional mode of patient-doctor meetings will disappear completely.
It would still exist because complicated medical procedures cannot be done online.
But, the government and people should help in boosting the development of telemedicine because coronavirus is still present.
We will see many more variations of coronavirus in the future. During such uncertain times, we should have advanced technologies and a robust framework for telemedicine.
FAQs
What is the value of the telemedicine market in India?
In 2019, the telemedicine industry was around 829 million U.S. dollars. This figure is expected to reach 5.4 billion U.S. dollars by 2025.
How many telemedicine companies are there in India?
As per the data shared by industrywired.com, there are approximately 3225 health-focused startups in India for 2022 with many more in the progress.
Is telemedicine an industry?
Telemedicine allows health care experts to treat and observe patients remotely. After the pandemic, this field is expected to grow into a 250-billion-dollar industry.
The ride throughout the year 2021 was a turbulent one. There were many things taking place simultaneously. Many things were also happening for the first time or creating records. One of the similar record-breaking things that occurred throughout the year 2021 was the companies going public.
More than 63 companies went public in 2021 together raising the amount of Rs 1,19,882 crore. This was the newest formed record of raising the highest funds through IPOs breaking the old record of Rs 75,279 crores formed in 2017.
Following the given data and current market conditions. There can be some debate on Indian Companies going public. Amongst the list of multiple companies going public, below given is the list of startups and companies going public in India in 2022.
Bajaj Energy Ltd. is an Uttar Pradesh based company launched in 2008 working in the field of thermal energy plants. It is one of the largest private-sector thermal generating companies dealing with the financing, operating, and generating of thermal power. The recorded revenue for the year 2021 was above the range of 500 cr.
Bajaj Energy is also listed in the companies going public to pay debts and acquire partners’ stakes. With the listing, the company intends to raise Rs 5450 crores. Amongst them, Rs 5150 crores belong to the newly issued IPO, and the remaining Rs 300 crores an offered for sale shares.
2. Aadhar Housing Finance
Aadhar Housing Finance Logo
Aadhar Housing Finance is the largest housing finance company launched in 1990. The revenue collected by Aadhar Housing Finance in 2021 was about 1363.36 crores rupees. For the year 2022, Aadhar Housing Finance is listed as an IPO with an issue size of Rs 7300 crores. The funds collected will be used to boost their capital base. Amongst Rs 7300 crores, freshly issued shares are worth Rs 1500 crores, and the remaining Rs 5800 crores are offered as a resale.
3. Studds Accessories
Studds Accessories Logo
Studds Accessories is a well-known name for two-wheeler accessories. It was introduced in 1983 to provide two-wheeler accessories and related products. The revenue collected by Studds Accessories in 2021 was about Rs 479.62 crores. Studds Accessories will take the chance to raise Rs 450 crores with Rs 98 crores as a freshly issued and Rs 39.39 lakhs as an offer for shares by going public in 2022.
4. Arohan Financial
Arohan Financial Services Logo
Arohan Financial Services is the leading Non-banking financial company- a microfinance institute launched in 1991. It provides loan services in financially low-Income states of India. The operating revenue calculated by Arohan Financial Services in 2021 was above Rs 500 crores. Arohan Financial is also listed for IPO with an issue size of Rs 1800 crores. Amongst them, Rs 850 crores will be issued freshly and the remaining will be Offer for sale (OFS).
5. ESAF Small Finance Bank
ESAF Small Finance Bank Logo
ESAF Small Finance Bank is one of the leading banks introduced in 2016. The bank works towards providing several services such as client base size, net interest margins, etc. The operating profit recorded by ESAF Small Finance Bank in 2021 was about Rs 415.84 crores, a 28.07% increase from earlier. ESAF Small Finance Bank is also listed as a company going public in 2022 with a total issue size of Rs 998 crores. Within them, the freshly issued size is Rs 800 crores and the remaining Rs 198 crores are from OFS.
6. OYO
OYO Logo
OYO is a new-age technology platform giving out hospitality services. It is one of the leading platforms in the hospitality sector since the time of its introduction in 2012. The total revenue of OYO for 2021 was about Rs 41750 crores. There was a drastic decrease noticed in the revenue of OYO from 2020 to 2021 all because of the pandemic. However, for a better future, OYO is also listed for IPO 2022 with a total issue size of about 8430 crores with freshly issued shares of Rs 7000 crores and an offer for sale of Rs 1430 crores.
7. Snapdeal
Snapdeal Logo
Snapdeal is an Indian leading e-commerce company founded in 2007. Snapdeal was originally launched as a coupon booklet platform, however, in 2010, it was fully converted into an online shopping platform.
Revenue collected by Snapdeal in the year 2021 was about Rs 471 crores which was about 44% less than the previous year. Snapdeal is all prepared to raise funds from the IPO of freshly issued shares of Rs 1250 crores and some other OFS shares of the present investors and shareholders.
8. Delhivery
Delhivery Logo
Delhivery is a new age India-based logistics service company inaugurated in 2011. Delhivery works towards providing multiple facilities such as express parcel deliveries, good deliveries, cross-border supplies, etc. The revenue collected by Delhivery in 2021 was Rs 4644 crores with a 28% increment seen in its total income from the previous year.
Delhivery is also set to raise funds in 2022 by IPO with an issue size of Rs 7460 crores. Amongst them, Rs 5000 crores can be counted as freshly issued and the remaining shares can be taken as OFS.
9. Emcure Pharmaceuticals
Emcure Pharmaceuticals Logo
Emcure Pharmaceuticals is considered one of the leading pharmaceutical companies engaging in various services such as developing, manufacturing, and marketing medicines at a large level. Emcure was introduced in the year 1981 and now is considered the largest brand helping in the therapeutic areas of gynaecology, HIV antiviral, etc.
The revenue collected by Emcure Pharmaceuticals in 2021 was about Rs 6091.8 crores with a significantly increased income of Rs 418.6 from the previous year’s data. Emcure will also be raising funds through IPO for newly issued equity shares of Rs 1100 crores and some other OFS shares.
10. FabIndia
FabIndia Logo
FabIndia is India’s largest platform especially popular for its handmade products. It is a private platform that enables the sale of products made from traditional methods, skills, and techniques.
FabIndia was launched in 1976. The revenue collected by FabIndia in 2021 was about Rs 1059 crores with a fall of 30% in its revenue when compared with previous years’ data. FabIndia is looking forward to raising the funds through IPO for its purpose of global expansion by the issue size of Rs 4000 crores.
Droom is an operated marketplace easing out the process of buying and selling automobiles through its platform introduced in the year 2014. Droom operates with the help of a combination of an e-commerce platform integrated with a technology-driven prosperity ecosystem of products and services for the automobile industry.
Droom reported revenue of Rs 135.53 in the year 2021 with a slight increment noticed from the data for 2020. Droom will be going public to raise funds of an issue size of Rs 3000 crores.
12. Ixigo
Ixigo Logo
Ixigo launched in 2007 and operated by Le Travenues Technology is an Indian AI-based travel portal. It works to facilitate travelling by helping Indians with planning, booking and managing their trips of different modes. The recorded revenue of Ixigo in 2021 was about Rs 135.6 crores with a reported increment of 21% in its revenue from the previous year.
The list of IPO for 2022 also includes the name of Ixigo with a total issue size of about Rs 1600 crores. Within them, Rs 750 crores will be raised with freshly issued equity shares and the remaining Rs 850 crores will be OFS.
13. VLCC Healthcare
VLCC Logo
Vandana Luthra Curls and Curves (VLCC) is an Indian brand focusing on beauty and wellness products introduced in the year 1989. VLCC products are popular in the field of wellness and beauty products. Along with that, VLCC also works by training students with more than 95 institutes across India.
In the year 2021, VLCC reported a net income of about Rs 5,652.42 million, with a profit of Rs 62.42 million. In 2022, VLCC is expected to go public with the issue size of Rs 300 crores of newly issued equity shares and some OFS.
14. Hinduja Leyland Finance
Hinduja Leyland Finance Logo
Hinduja Leyland Finance Limited was incorporated in 2008 with the service of providing NBFC services to urban and semi-urban markets. It provides financing help for a large range of products falling in the category of vehicles and housing finances. The net worth of the company as reported by Hinduja Leyland Finance Limited in the year 2021 was about Rs 3825 crores.
There were significant changes seen between the years 2020 and 2021 due to the visible effects of a pandemic. Hinduja Leyland Finance Limited is about to raise funds from its initial public offerings of an issue size of Rs 700 crores. Amongst them, Rs 500 crores are freshly issued equity shares with the remaining as OFS.
15. Inspira Enterprise India
Inspira Logo
Inspira Enterprise India Pvt Ltd is a competent and professional provider of cyber security introduced in 2009. They provide digital transformation and cybersecurity services to their clients with bold thinking and path-breaking techniques.
The revenue collected by the company for the year 2021 was about Rs 803 crores. Inspira Enterprise India is also listed to go public in 2022 with an issue size of Rs 800 crores for foreign expansion.
16. Medi Assist
Medi Assist Logo
Medi Assist Healthcare Services Ltd offers a complete cashless hospitalization of customers through a network of healthcare service providers. It was launched in the year 2000 and mainly deals with the health insurance ecosystem. Medi Assist is also ready to raise funds through IPO in 2022 with a total issue size of about Rs 800 crores.
17. SAMHI Hotels
SAMHI Hotels Logo
SAMHI Hotels is one of the fastest-growing hospitality management companies since the time of its introduction in 2010. SAMHI Hotels mainly focus on the investment and development of international branded hotels across India.
From the year 2020 to the year 2021, there was a decrease in the revenue of SAMHI Hotels due to the presence of the pandemic period. SAMHI Hotels has a registered IPO of issue size Rs 2000 crores with Rs 1100 crores will be freshly issued shares.
18. Chemspec Chemicals
Chemspec Chemicals Logo
Chemspec Chemicals is a leading manufacturer of additives for FMCG ingredients worldwide. It was established in 1975. Chemspec Chemicals is also known to supply and manufacture Pharmaceutical drugs. Chemspec Chemicals has recorded its operating revenue to cross Rs 500 crores and it is estimated to go public with an IPO size of Rs 700 crores.
19. Shri Bajrang Power And Ispat
Shri Bajrang Power And Ispat Logo
Shri Bajrang Power And Ispat was founded in 2002 and is considered a major steel producer. It is considered one of the leading integrating steel companies working towards providing different products such as TMT bars, billets, sponge iron, etc.
As per the president of the company Shri Bajrang Power And Ispat, the revenue noted for the year 2021 was around Rs 3,031.21 crores with a net profit of Rs 312 crores. It is also listed for IPO with an issue size of Rs 700 crores planning to halve its debt by using funds.
20. SREI Equipment Finance
SREI Logo
Established in 1989, SREI Equipment Finance deals with infrastructure financing services throughout India. The company provides a loan facility for the purchasing of various equipment used in the construction industry, irrigation, IT infrastructure, etc.
The recorded revenue of SREI Equipment Finance is about Rs 522.78 crores in 2021. The company is looking to launch its IPO at the desired time with an issue size of Rs 2000 crores. In them, 1100 are freshly issued equity shares and the remaining are OFS.
Launched in 2008, Gemini Edibles and Fats Oil works in the business of manufacturing and marketing edible oils and fats. They are also considered one of the leading palm oil plantation companies across the globe. For the year 2021, the revenue collected by Gemini Edibles was about Rs 7,765.96 crore with Rs 185.85 crores.
Unlike other businesses, Gemini Edibles saw not much change in its demand as the demand for cooking oil was increased by houses whereas, on other hand, restaurants and hotels saw a sharp decline in demand hence equalizing the situation. For the year 2022, Gemini Edibles and Fats Oil are listed under the IPO list with an issue size of Rs 2500 crore from OFS.
22. Sterlite Power
Sterlite Power Logo
Sterlite Power founded in 2010 works as one of the leading private sector power transmission infrastructure developers and solutions providers. Sterlite Power owns and manages power transmission assets across India.
As per calculations the revenue collected by Sterlite Power is above Rs 500 crores but with a 26% decline in its operating revenue from the previous year’s data. Sterlite Power is listed in the IPO list 2022 with a freshly issued size of Rs 1250 crores. The raised funds will be mainly used to repay its debt.
23. Paradeep Phosphates Limited
Paradeep Phosphates Logo
Paradeep Phosphates Limited [PPL] was established in 1981 and is now considered India’s third-largest producer of non-urea fertilizer and the second-largest producer of di-ammonium Phosphate. PPL deals with the production, trading, and distribution of various fertilizers.
The total revenue recorded by PPL for the year 2021 was about Rs 5183.94 crores which was slightly higher than last year. PPL is planning to raise Rs 1255 crores from fresh sizes issued. These funds will be used to pay debts and to partly finance the acquisition of a fertilization manufacturing company in Goa.
24. Fincare Small Finance Bank
Fincare Logo
A smart banking platform launched in 2017 with its prime focus on unbanked and underbanked customers to get banking services with smart technology. The model of Fincare works by providing needed financial aid to businesses or individuals through the help of technology.
The revenue collected by Fincare in 2021 was about Rs 674.99 crore with a net profit of Rs 101.98 crores. Fincare Small Finance Bank is also known to raise funds through Initial Public Offerings of the issue size of Rs 1330 crores. Amongst them, 330 shares are newly issued and all others are from OFS.
Penna Cement is known to have its revenue above Rs 500 crores for the year 2021 with a significant increment of 13.06% in its net worth. Penna Cement is expected to raise a total of Rs 1550 crore through IPO. The funds raised will be then used to pay for borrowings, upgrading its law griding and cement mill, setting up a waste heat recovery plant, etc all at different places.
26. PharmEasy
Introduced in 2014, PharmEasy is a one-stop medical solution providing. They provide complete services from the booking of diagnostic tests to providing Over the counter medicines. They provide medical services such as radiology tests with the home delivery of needed products. The revenue collected by PharmEasy in 2021 was about Rs 2360 crore. PharmEasy has also participated in the upcoming IPOs list with an issue size of Rs 6250 crores.
27. Adani Wilmar
Adani Wilmar Logo
Adani Wilmar, founded in 1999 is one of the leading names in the edible oil industry. One of the most popular edible oils of Adani Wilmar is Fortune Oil. Adani Wilmar was known to be open on 27 January with a subscription of 17.37 times.
28. AGS Transact Technologies
AGS Transact Technologies Logo
Founded in 2002, AGS Transact Technologies is considered one of the largest integrated omnichannel payment solutions providers in India. They provide customized services and products mainly consisting of ATM and Cash recycler machines outsourcing, cash payment and digital payment solutions, etc.
The company recorded its revenue for the year 2021 as Rs 484.76 crores with a slight increment noticed in the revenue. For the year 2022, AGS will be going public with a total issue size of Rs 680 crores of IPO.
29. Vedant Fashions
Vedant Fashions Limited Logo
Introduced in 2022, Vedant Fashions Limited is a parent enterprise for some well-known brands such as Manyavar, Mohey, and Mebaz. The company Vedant Fashions Limited is considered a one-stop solution for every occasion by its customers.
The company was recorded to calculate less revenue collected from the year 2020. There was a gradual increment in its revenue from the year 2019 to the year 2020. However, it called for 38% in the year 2021 owing to the pandemic period. For 2022, Vedant Fashion is listed for raising funds through public offerings by the size of Rs 3149.19 crores.
30. Uma Export
Uma Exports Logo
Founded in 1988, Uma Export earlier was known to export and import building materials, however, in the current scenario, it is one of the leading exporters of agricultural products. The agricultural products are collected from the various parts of India to export and import to certain destinations.
The recorded revenue by Uma Export in 2021 was around Rs 260.94 crores with a net profit margin of around 1.72%. Uma Export is listed to raise funds by public offerings in 2022 with an issue size of Rs 60 crores.
Introduced in 1986, Ruchi Soya is the largest producer of edible oil in India. In 2019, Ruchi Soya was acquired by Patanjali Ayurved. Ruchi Soya has its prime focus on the business of processing oilseeds and refining crude oil to make it edible. Ruchi Soya is listed as Follow Public Offerings (FPO) consisting of freshly issued shares of about Rs 4300 crores.
32. Veranda Learning
Verdana Learning Solutions Logo
Established in 2018, Verdana Learning Solutions Private Limited is an e-learning platform giving out various career-defining courses. Courses can be found in a range of fields preparing one for the competitive exams or personal growth. The revenue collected by Veranda Learning in 2021 was around Rs 4.86 crores and a slight decline in its net profit margin. Veranda Learning is also listed for IPO with an issue size of Rs 200 crores.
33. Skanray Technologies
Skanray Technologies Logo
Incorporated in 2007, Skanray Technologies is considered one of the well-known players in the Indian medical device market. Skanray Technologies’ prime focus is to design, develop, manufacture and supply medical devices.
In the early five months of 2021, the revenue collected by Skanray Technologies was about Rs 88.8 crore rupees. The IPO size of the company is about Rs 400 crores. The funds will be invested in the required capital investment of the company along with some other basic investments such as inorganic plants and the company’s subsidiaries.
34. Five Star Business Finance
Five Star Business Finance Logo
Founded in 1984, Five Star Business Finance provided small loans to business owners and small mortgage loans to eligible candidates for their needs. It is registered with RBI as an NBFC company working with its underwriting model to provide secured finances. Five Star reported a gradual growth in its total income from the year 2020 to the year 2021 by the amount of Rs 787 crores to Rs 1051 crores respectively. The Five Star IPO issue size is Rs 2752 crores and it all comprises OFS.
35. Keventer Agro
Keventer Agro Logo
Introduced in 1986, Keventer Agro is considered the largest FMCG company in eastern India with its focus on packaging, dairy, and fresh food products. The company deals with multiple aspects of the food industry such as frozen food, beverages, export for food, etc.
The recorded revenue for the year 2020-2021 was around Rs 836.02 crores with a net loss of Rs 76.17 crores. The IPO size of Keventer Agro is about Rs 350 crores fresh issued and some other OFS. The funds will be used to be paid as debt and as a fund for the capital expenditure required by the company.
36. Tracxn Technology
Tracxn Technology Logo
Founded in 2013, Tracxn Technology is the combination of human analysts with Artificial Intelligence to work for the benefit of humans. It is considered a research firm that provides needed information for venture capitalists and corporate development offices through a large amount of data.
Tracxn reported a revenue of 100 crores with 70% of its revenue coming from outside of India. For Indian Market, Tracxn’s IPO issue size will be Rs 500 crores.
37. Apeejay Surrendra Park Hotel
Founded in 1987, Apeejay Surrendra Park Hotel is a hotel company providing services such as hotel rooms, dining restaurants, recreational and entertainment facilities, and providing venues for different purposes such as weddings, birthday events, etc.
The operating revenue collected by Apeejay Surrendra Park Hotel was between Rs 100 – 500 crores with a slight decline noticed from the year 2020 due to the pandemic period. Apeejay Surrendra Park Hotel is considered to go public with the issue size of Rs 1000 crores.
38. Harsha Engineers
Harsha Engineers Logo
Starting in 1986, Harsha Engineers is considered the largest manufacturer of bearing cages with almost 50% of the market share. They provide best-bearing cages with some other special-purpose stamped components. Harsha Engineers reported revenue of Rs 629.46 crores in the year 2021. Harsha Engineers is prepared to raise the funds through public offerings by the issue size of Rs 755 crores.
39. Annai Infra Developers
Annai Infra Developers Logo
Introduced in 2008, Annai Infra Developers belongs to the construction industry. They construct and sell multiple products such as water tanks, ponds, canals, roads, irrigation systems, etc. Annai Infra Developers will also be raising funds through IPO in the year 2022 of the issue size of Rs 250 crores.
40. Prudent Corporate Advisory Services
Prudent Logo
Started in 2000, Prudent Corporate Advisory Services Ltd is a leading investment providing solution company. It mainly deals with the financial services products such as Mutual funds, insurance, bonds, etc. The revenue for Prudent Corporate was counted as $412 million. Prudent Corporate is all prepared to raise its IPO in 2022 with yet to be declared OFS.
41. Tamilnad Mercantile Bank
Tamilnad Mercantile Bank Logo
Previously known as Nadar Bank, it was introduced in 1921. Tamilnad Mercantile Bank is one of the oldest private sector banks in India. Tamilnad Mercantile Bank calculated its revenue of 3,992.52 crores in 2020. For the year 2022, it is believed to raise funds through Public Offerings of 15.83 million freshly issued shares and 12.505 million shares from OFS.
42. Narmada Bio-chem
Narmada Biochem Logo
Established in the year 1996, Narmada Biochem is known to serve farmers for more than two decades. They are the leading manufacturer of world-class organic and biofertilizers. Narmada Biochem is noted to have its revenue in the range of Rs 100 – 500 crores. For the year 2022, it is planning to raise funds with an issue size of Rs 90 crores.
43. Popular Vehicles and Services
Popular Vehicles and Services Logo
Founded in 1984, Popular Vehicles and Services were introduced as the first batch of vehicle dealers by Maruti Suzuki. They are one of the popular automobile dealers with regional specific markets and centers The revenue noted by Popular vehicles and services in 2021 was around Rs 2,919.25 crores. They are also prepared to raise funds through IPO with an issue size of Rs 150 crores.
44. Fusion Microfinance
Fusion Microfinance Logo
Fusion Microfinance was started in 2010 with the thought of creating opportunities at the bottom of the pyramid. They provide financial help to un-served and underserved females from rural India. They focus mainly on increasing the come individuals to help increase the economic growth and prosperity of the whole country.
The noted revenue of the firm Fusion Microfinance in 2021 was about Rs 730.31 crores. They are also determined to raise funds through IPO 2022 by the issue size of Rs 600 crores and an additional OFS with 2,19,66,841 equity shares.
Conclusion
IPOs stand for Initial Public Offerings shared by any company or firm. Companies start taking investments from the public in return for the share of the firm. The amount collected by companies is then used for the advancement of the same firm. Many companies are opening up on getting public due to several situations. A list of companies going public in the year 2022 is shared above.
FAQs
Which is the best IPO in 2022?
Many IPOs are coming in the year 2022, some of the biggest and best ones are LIC. Other biggest IPOs of the year are Delhivery, Oyo, and PharmEasy.
Where can I get IPO data?
Bloomberg, Capital IQ, and CB Insights are some of the top sources to get complete information about upcoming IPOs.
Modern technology made great advancements in the medical industry. Now, this technology is making the reach of various medicines even easier.
The times when we had to roam around the market to find a particular medicine are gone. At present, we can find any medicine and get it delivered to our doorstep. This has been made possible with PharmEasy, the Indian online medicine delivery platform. We can use this app to order medicines and healthcare online.
PharmEasy has made great progress with its idea of making medicine delivery easy. It has gained huge popularity among the customers with its advertising and marketing. They have even made campaigns addressing customers’ concerns in a creative way.
About PharmEasy – India’s Leading Medicine Delivery App
PharmEasy is India’s health tech startup of online pharmacy and diagnostics. PharmEasy’s acquisition of Medlife has made it the biggest online pharmacy platform. After the acquisition, it aimed to serve 2 million customers a month.
In 2021, it also acquired Thyrocare technologies and Aknamed. The platform offers services of medicine delivery, diagnostic test sample collection, and teleconsultations. With its various partner vendors, it offers services to over 710 cities covering Bengaluru, Pune, Mumbai, etc. The company covers 98% of pin codes in the nation to deliver medicine.
Founders of PharmEasy
Dhaval Shah and Dharmil Sheth
PharmEasy is the healthcare startup that came into existence in 2014. Its co-founders include Siddharth Shah, Dhaval Shah, Dharmil Seth, Harsh Parekh, and Hardik Dedhia. The startup began with the idea of making healthcare in India easily accessible. API Holdings Private Limited is the parent organization of PharmEasy.
How does PharmEasy Work?
It is an e-commerce platform where one can buy medicines and other healthcare equipment. A person uploads an image of the prescription on the app or website. This prescription is then sent to a medical store in your area and the order is packed.
Once the order is ready, a delivery agent comes to pick it up. The order then gets delivered to your home. It is as simple as its ads make it look.
Marketing Strategies of PharmEasy
Marketing is super important for any business to grow. When it comes to startup, it becomes even more important. To make a startup stand out in the market, strategic marketing is essential.
PharmEasy opts for various strategies for marketing. It tries to gain the customers’ attention through online marketing as well as tv commercials.
The following are some of the marketing strategies of PharmEasy:
Television Commercials
PharmEasy is an Indian company. The best way to get the attention of the Indian audience is through TV ads. PharmEasy’s TV ad was a successful marketing strategy that gained great popularity.
The company made a music track for its ad. The track was a version of the popular Bollywood song, ‘Urvashi’. They created their slogan in the tune of it. The slogan said ‘PharmEasy, PharmEasy, Take it easy PharmEasy’. Every time this soundtrack played on the television; it got the viewers’ attention.
When viewers find something interesting, they like to know more about it. In this way, this strategy by the brand got successful. This ad made the app and its services popular among the customers.
Meme Marketing
PharmEasy Instagram Marketing
PharmEasy is a new-age startup. The brand knows how to keep up with the latest trends. With the increasing popularity of memes over social media, PharmEasy took a dip in this strategy.
The company posts memes on its Instagram handle. This catches the customer’s attention in a creative and quirky way. For example- They made a meme on weekend working and attached its slogan #TakeItEasy, its tagline to it. There are several other memes that the company keeps on making according to the trends.
Once a person signs up on the PharmEasy app or website, the role of this strategy begins. The company uses technology to send automated messages or emails to its customers.
These messages include the information of new offers or discounts that the company has to offer. This is a great strategy by the company to gather up the customers’ attention.
Sponsorships
The PharmEasy startup was not popular right from its birth. It had to create a space and trust for itself in the market. One of the most successful strategies by PharmEasy in its early years wascricket sponsorship.
PharmEasy Cricket Sponsorship
After investing in cricket, people began to associate PharmEasy with cricket. Most of the Indian audience watches the world cup. An ad between the match gets the viewers’ attention and help develop a level of trust.
PharmEasy earned huge popularity through this marketing strategy. People now consider it a reliable brand in the e-pharmacy industry.
Influencer Marketing
We all are aware of the power of social media nowadays. Influencers and bloggers over various channels are getting more and more popular. They also have a large audience.
So, PharmEasy has also opted for influencer marketing. In this way, it can promote itself at the leverage of the influencer’s audience. For example- PharmEasy has indulged in making reels. You can see Viraj Ghelani, Digital Creator, and Sapan Verma, Comedian in the PharmEasy reels.
Traffic Sources of PharmEasy
The traffic generated by PharmEasy is 63.39% from search. Besides, there is 30.97% direct traffic, 0.72% from social media, 3.29% from display, 0.66% from emails and 0.97% from referrals.
PharmEasy Covid-19 Marketing Strategy
PharmEasy Covid-19 Marketing Strategy
Every brand advertised itself in association with the pandemic. So, PharmEasy too made ads related to covid-19. They decided to take a witty and sarcastic road for their advertisement.
The company has used a statement that is very common among the Indian audience. It is ‘Sab uparwale ke hath mein hai.’ So, taking a sarcastic take, the company used the actual uparwala i.e, the neighbour living up to promote their brand.
Another popular ad of PharmEasy was the ‘WFH’ campaign. This ad was focused on lockdown, as people were confined in their homes. The advertisement showcases while everything changed, one thing that didn’t change was getting medicines with ease.
PharmEasy has given a simple and sensible message to the people with their ads. It is to not leave everything up to fate. People need to understand that they have to take care of their health. The ad shows that to take care of medicine and healthcare, PharmEasy is always there.
PharmEasy, India’s largest e-pharmacy came as a boon. It made the process of medicine buying easy, accessible, and reliable. During the pandemic, when people could not go out and find their medicines, PharmEasy has been a great help.
It is safe to say that PharmEasy gained great popularity with its marketing strategies. It has always kept its ads short, catchy and relatable. All such strategies helped PharmEasy to gain trust and popularity among the customers.
FAQ
Is PharmEasy a profitable company?
Yes, PharmEasy reported revenue of ₹2360 crore in the financial year 2021.
Is PharmEasy a unicorn?
PharmEasy achieved unicorn status with a valuation of $1.5 billion.
Who is the founder of PharmEasy?
Dhaval Shah and Dharmil Sheth are the founders of PharmEasy.
Gig employment has revolutionized the Indian economy in recent years, providing a large number of jobs for the population and adding to the country’s GDP in the long run. It is getting so popular that people are actively choosing gig work over regular work due to the convenience and flexibility of the job. Companies that recruit gig workers save money on office space, equipment, and other expenses, while workers enjoy flexible work schedules and the opportunity to do something they like and also earn more by doing multiple gigs.
Gig jobs were already popular before the pandemic, but since the COVID outbreak, many individuals who lost their normal employment have turned to gigs, which are very easy to find and offer an excellent opportunity to make money. More businesses are turning to gig workers in place of full-time staff, and their operational methods are shifting as a result. This allows them to hire more talent but at a lower cost.
Companies that provide gig jobs are expanding in India, and they are assisting a large number of people who are looking for work. We’ll take a look at a few of these businesses in this article.
About Gig Economy and Benefits and Challenges of Gig Workers
Flipkart
Flipkart – Gig Economy Company
Most of the gig workers working at Flipkart are delivery service people. Founded in 2007 by Sachin Bansal and Binny Bansal, the e-commerce giant connects sellers to the consumers and delivers the products to the customers. Flipkart also provides training to its supply chain employees and provides them with all the gear necessary for the job.
Urban Company
Urban Company – Gig Economy Company
Urban Company is an on-demand home service platform that allows consumers to access a variety of services from the comfort of their own homes. Urban Company currently has 35,000+ skilled professionals providing 7,50,000+ services each month, as well as having a worldwide presence in four countries.
Bigbasket
Bigbasket – Gig Economy Company
Founded in 2011, Bigbasket is an online grocery delivery service that brings goods to your home once you place an order. The company employs roughly 35,000 people across 30 Indian cities, a large percentage of which are delivery drivers.
Swiggy is an online food delivery service that brings food right to your door. Founded in 2014, Bangalore-based company that operates in 500+ cities. Swiggy is also known as one of the fastest-growing unicorn companies in India. This delivery business, which employs over 1,30,000 people, makes around 1 million deliveries every day.
Zomato
Zomato – Gig Economy Company
Zomato was launched in 2008 as Foodiebay, and in 2010 it was renamed Zomato Media Pvt Ltd. Deepinder Goyal and Pankaj Chaddah were the founders of the Zomato. The business joined India’s Unicorn club in 2018. It is available in a variety of countries, including the United Arab Emirates, Sri Lanka, Canada, Australia, and the United Kingdom.
Amazon
Amazon – Gig Economy Company
Amazon first entered the Indian market in 2013, and it has since grown to become one of the country’s largest online retail platforms. Amazon has created Flex, which provides part-time delivery work and other Amazon gig jobs in India for workers who want to make extra money. Those who have their own vehicles are eligible to apply for the delivery job, and can earn around Rs.140 per hour.
Dunzo
Dunzo – Gig Economy Company
Kabeer Biswas, Ankur Agarwal, Dalvir Suli, and Mukund Jha established Dunzo in 2014. It’s an online service that delivers necessities and groceries to customers’ homes. The company is headquartered in Bangalore. Jaipur, Gurgaon, Delhi, Chennai, Pune, Bangalore, Mumbai, and Hyderabad are among the eight major cities in India where Dunzo is now active.
PharmEasy
PharmEasy – Gig Economy Company
PharmEasy is an online drug and healthcare supplies delivery service based in Mumbai. The application also provides online doctor consultations and telehealth. PharmEasy app works by taking the customer’s prescription, verifying it at the store, and then delivering the medications as needed. During the pandemic, the company also launched the gift a mask campaign, in which customers were encouraged to donate a mask to frontline employees, with the company matching each donation.
Ola Cabs
Ola – Gig Economy Company
Ola cabs, often known as Ola, is an online taxi and rideshare service that offers consumers rides that can be simply booked online. The company, which is based in Bangalore, provides services in practically all of the country’s main cities. Despite its many issues, Ola continues to have a large user base in the country.
Porter
Porter – Gig Economy Company
The company was founded in 2014 and is active in over 13 cities and has served over 50 lakh customers. The Porter provides transportation aids to the customers, which also helps the owner-drivers with employment and provides them with a consistent source of income. For now, the company has around 2 lakh owner-drivers.
Uber
Uber – Gig Economy Company
Uber began operations in India in 2013, and it has since served over 95 million riders and drivers. It is an online taxi and rideshare company that accepts online reservations for rides. Uber India has supplied gig jobs to a large number of drivers, however the Uber structure in India is very different from that in other developed countries.
Mr. Right is a home service business that offers a variety of services such as appliance repair, deep cleaning, and more. The company accepts orders online and will send a professional with a good track record to the customer’s home to complete the work. The organization employs over 60,000 freelancers and offers a variety of home services.
Blinkit
Blinkit – Gig Economy Company
Blinkit, formerly Grofers, is an online platform for ordering groceries and other necessities. Albinder Dhindsa and Saurabh Kumar founded the company in 2013. The company began operations in Delhi and has since expanded to other cities. The company’s goal is to alleviate the problems and inconveniences that customers and merchants face as a result of the market’s disorganized setup.
Conclusion
Gig jobs are slowly but steadily gaining popularity in India. Because of the pandemic, there has been an increase in gig workers, and some individuals are enjoying it and do not want to return to their former jobs. Gig jobs offer convenience and flexibility. Gig workers make up a major portion of the country’s workforce and contribute significantly to its GDP. It is something that the authorities must address, and actions to protect gig workers and provide them with fair working conditions must still be taken.
FAQs
What is gig work?
Gig workers work as short-term, temporary, or independent contractors for one or more companies, rather than a regular, in-office, full-time position with a single corporation.
How much do gig workers earn in India?
The average salary for gig workers in India is around Rs 12,000 to Rs 16,000.
What is the most popular gig job?
Delivery driver is the most popular gig job.
What is called Gig economy?
Gig economy is a workforce environment for short-term employment, contractual jobs, and independent contractors who do not get monthly wage, isntead they get paid for completing a Gig.
Ashwini
