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The online pharmacy was last valued at $5.6 billion in 2021, followed by nearly 90 percent decrease in its valuation amidst debt repayment related challenges.
The Competition Commission of India (CCI) has cleared Manipal group chief Ranjan Pai's investment in online pharmacy PharmEasy, according to the latest filing by the antitrust regulator. An additional investment from 360 One (formerly IIFL) in PharmEasy has also been cleared. Ranjan Pai invests in PharmEasy's funding with 360 One. API Holdings board seats acquired. Rights issue resolves debt. Monthly burn reduction and strategic direction expected.
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.
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 doesn’t go below 15%, people in the know added. His family office is investing around Rs 1,300 crore in PharmEasy.
API Holdings, which runs omnichannel pharmacy chain Pharmeasy, and was struggling to raise capital, has raised Rs 3,500 crore ($420 million) through a rights issue, ......