Analysis, guides and explainers on India's unlisted market — from IPO pipelines to ESOP liquidity.

API Holdings could be debt-free within days. That clears the first of two conditions standing between PharmEasy and a reverse merger into Thyrocare — the second being profitability without leaning on Thyrocare's numbers. If both land, Thyrocare shareholders may wake up owning a piece of an e-pharmacy. Not everyone will want it.

Motilal Oswal has committed ₹1,500 crore to Inox Clean Energy, with ₹1,000 crore already paid in. The renewables platform will spend most of it buying rivals as it targets 10 GW of capacity by FY28.

PPFAS AUM grew 38% and profit 35% in Q1 FY27. But market share went flat, revenue yield broke a three-year trend, and the SIP book stopped growing.









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