Zee Entertainment share price zooms⏫

PharmEasy acquires Aknamed, Zenoti buys SuperSalon and more.

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Sep 15, 2021

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Zee Entertainment shares soar 40%📈

Zee Entertainment shares ended Tuesday’s session 40% higher to Rs 261.50 due to the buzz around its management and board recast.

The largest shareholder of Zee Entertainment Enterprises, Invesco Developing Markets Fund and OFI Global China Fund LLC has called an extraordinary general meeting of shareholders seeking to remove Punit Goenka, currently MD of the company.

ZEE announces attractive launch offer on Zee Family Packs - Exchange4media

Zee Entertainment posted its biggest one-day gain as it ended 39.99% higher at Rs 261.50. Other group stocks - Zee Learn up 20% and Zee Media up 5% - also rallied.

Thanks to the surge in Zee Entertainment, the Nifty Media index emerged to be the best performing sector on NSE today, with a gain of over 14%.

PharmEasy acquires Aknamed in $180-$190 million stock deal🩺

Online pharmacy PharmEasy has acquired cloud-based hospital supply chain management startup Aknamed in a largely stock deal worth about $180-$190 million.

The acquisition, which is similar to its purchase of Thyrocare in June, is part of the Mumbai-based company’s plans to position itself as a broader online healthcare firm, diversifying from being just an online medicine delivery platform.

Siddharth Shah, co-founder and chief executive of Pharmeasy’s parent API Holdings

Bengaluru-based Akanamed offers procurement solutions to over 1,200 hospitals, including Manipal Hospitals, Columbia Asia, and Narayana Health.

All the founders of Aknamed will get shares in PharmEasy’s parent entity API Holdings and additional stock options, the sources said. The deal comes ahead of a planned Initial Public Offering by API Holdings, which will file its draft IPO papers by next month.

Vahan, a recruitment platform for blue-collar workers, has raised $8 million in its Series A round, led by existing investor Khosla Ventures.
Eupheus Learning, a New Delhi-based B2B edtech company, has raised $10 million from private equity platform Lightrock India in a Series C funding round.
GTM Buddy, a tech-enabled sales enablement platform, has raised $2 million in a seed funding round led by Stellaris Venture Partners.
Hexahealth, a healthcare startup, has raised Rs 33 crore in funding led by impact investor Omidyar Network and Chiratae Ventures.

Zenoti buys SuperSalon, plans more acquisitions💆🏻‍♂️

Zenoti, which makes software for large spas and salon chains, has acquired US-based rival SuperSalon to bolster its revenue. The acquisition will strengthen Zenoti’s presence among large standalone salons in the US that use SuperSalon.

As part of the deal, SuperSalon’s chief executive Raj Mahajan will join Zenoti as senior vice president, corporate development.

Founder Sudheer Koneru said this was the first of its several planned acquisitions and that the company had set aside around $120 million for inorganic growth.