What happened to Pharmeasy?
March 29, 2024
12 min
203
Full
203 of 773
Episode 203 · March 29, 2024
What happened to Pharmeasy?
0:00 / 12:25
Excerpt playback isn’t available for this episode — use the full-episode link.
Search the Record
Moment search isn’t open for this episode yet
When it opens, you’ll be able to type any phrase and jump straight to the second it was said.
Bengaluru Traffic Police Episodes Around March 29, 2024
Episode 203 of 773 — walk the feed in the order it was published.
What happened to Pharmeasy?
Summary
<p>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. </p><p><br /></p><p>From $5.6 billion to $500 million!</p><p>All because it had to take another debt to pay off its previous debt. The second time though, interest rates were not zero.</p><p>What’s happened?</p><p>Tune in.</p><p><em>Daybreak is produced from the newsroom of </em><a href="https://the-ken.com/"><em>The Ken</em></a><em>, India’s first subscriber-only business news platform. </em><a href="https://the-ken.com/pricing/"><em>Subscribe </em></a><em>for more exclusive, deeply-reported, and analytical business stories.</em></p>
Topics
Episode details and artwork are published by the show’s own feed. Sentinel plays short cited excerpts and links every episode back to its publisher.