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This entrepreneur's company became the first startup to acquire a majority stake in a listed company, a move that was never seen before in the history of corporate India.
Goldman Sachs is likely to convert a part of the debt it advanced to PharmEasy into equity, following the upcoming rights issue of about $424 million (₹3,500 crore) by the online pharmacy that is due to open on September 4, sources aware of the matter said.
The online pharmacy is also in talks to restructure debt terms ahead of rights issue; share sale set to open on September 4
Earlier, it was reported that Manipal Group has offered to invest approximately Rs 1,300 crore for an 18 per cent stake in API Holdings.
PharmEasy has also come under scrutiny for acquiring massive debt. It borrowed $285 million from Goldman Sachs to pay off an earlier debt incurred from Kotak Mahindra Bank to buy Thyrocare