PharmEasys parent firm API Holdings cut down its advertising and promotional expenses to Rs 235 crore, less than half of what it incurred on this account in FY22, while staff costs also eased 12% to Rs 1,283 crore.
This week the much-awaited initial public offering (IPO) of omnichannel retailer Honasa Consumer Ltd, the parent of beauty and personal care brands such as Mamaearth and The Derma Co, was launched.
Pai is also joining the board of PharmEasy and is expected to work with CEO Shah. He will retain the board seats as long as his holding doesnt go below 15%, people in the know added. His family office is investing around Rs 1,300 crore in PharmEasy.