Piramal Capital & Housing Finance Limited (PCHFL), the wholly owned subsidiary of Piramal Enterprises Limited, announced its strategic partnership with API Holdings Limited (API Holdings) through its digital platform Retailio – the largest digital healthcare platform B2B healthcare in India. The partnership aims to synergize the respective capabilities to provide efficient and transparent financing solutions to consumers, retailers and merchants in the API Holdings healthcare ecosystem.
As part of this partnership, PCHFL Finance has allocated an initial amount of INR 100 crore to be disbursed by March 2022, which will increase the initial market response.
In addition, PCHFL will provide solutions such as Buy Now Pay Later (BNPL) for consumers and merchants, multi-collateral loans for retailers, supply chain financing, hospital financing, cash discount. invoices, among others. This alliance builds on the strengths of both companies, making it a winning proposition for all stakeholders, thereby expanding the reach and attracting new customers.
Commenting on this partnership, Jairam Sridharan, MD, Piramal Capital & Housing Finance Limited said, “We are delighted to partner with API Holdings to provide technology finance solutions to meet the healthcare needs of their clients. Health care has become one of the biggest sectors. in India, driven by disruptive innovation and increasing consumer spending – as people prioritize health and wellness in the new normal. a real difference in people’s lives. This partnership is in line with our strategy of expanding our retail portfolio through a blend of collaborative origination model and leveraging our distinguished digital lending capabilities. We look forward to a profitable and long-term partnership with API Holdings as we aim to shell out up to INR 100 crore by the end of March 2022. “
Harsh Parekh, Full Time Director and Co-Founder of API Holdings, said: “We are extremely excited to partner with Piramal Capital & Housing Finance and believe this partnership will provide the right capital boost to all of the partners of The ecosystem that we by bringing together our potential synergies, we aim to provide capital to the underserved SME / MSME segment, which in turn would help fuel the growth of these companies. “
Rohit Anand, Head – FinTech, API Holdings, said: “At API and Retailio, we are continuously striving to seamlessly digitize the current offline healthcare market in India and our partnership with Piramal will allow us to expand various credit products across our ecosystem. We share a similar vision and mission with Piramal for the sector and now seek to accelerate the deployment of various innovative offers, for our SME / MSME partners as well as our consumers. “
API Holdings operates an integrated, end-to-end business focused on providing solutions to the healthcare needs of consumers at all critical stages of healthcare delivery. Its presence today extends to key assets such as:
- Thyrocare: Leading diagnostic chain in India
- Aknamed: India’s leading medical provider for hospitals
- Retailio: the main B2B digital pharmaceutical platforms connecting distributors and pharmacies
In addition, API Holdings (through its subsidiary) owns the PharmEasy brand as well as the proprietary technology platform that powers the PharmEasy marketplace.
With the acquisition of DHFL, PCHF becomes one of the main players in the retail lending segment with access to over one million lifetime customers, a presence in 24 states with a network of over 300 branches. The company relies on the “phygital” lending platform driven by machine learning (ML) and artificial intelligence (AI), including the new mobile application. With the “Digital-at-its-Core” strategy, the Piramal platform offers merchants and consumer businesses a quick and easy way to collaborate and finance large-scale loans.
Shares of Piramal Enterprises Limited were last trading in the BSE at Rs. 2,472.20 from the previous close of Rs. 2,650.90. The total number of shares traded during the day was 30,797 in more than 4,059 transactions.
The stock hit an intraday high of Rs. 2640.00 and intraday low of 2461.00. The net turnover during the day was Rs. 78,103,503.00.