What happened to Pharmeasy?
Mar 29, 2024•12 min•Ep. 203
Listen to this episode in Metacast mobile app
Don't just listen to podcasts. Learn from them with transcripts, summaries, and chapters for every episode. Skim, search, and bookmark insights. Learn more
Episode description
Earlier this week, the Competition Commission of India (CCI) cleared Manipal group chief Ranjan Pai's investment in online pharmacy PharmEasy. So far Pharmeasy, once the highest-valued Indian healthcare startup, has raised Rs 3,500 crore through a rights issue. But it raised this money at a 90 per cent discount to its peak valuation.
From $5.6 billion to $500 million!
All because it had to take another debt to pay off its previous debt. The second time though, interest rates were not zero.
What’s happened?
Tune in.
Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
For the best experience, listen in Metacast app for iOS or Android