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PharmEasy plans to raise INR 750 crore through a rights issue

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Following the cancellation of its initial public offering (IPO), epharmacy PharmEasy has reportedly begun a rights offering to raise up to INR 750 Cr through convertible notes. The matter is expected to be resolved by the middle of October.

“There is a commitment of INR 750 Cr from existing investors, and they (investors) are currently subscribing to the rights issue pro-rata,” a source told the Economic Times. According to people familiar with the situation, the startup is ‘unsure’ about a new funding round due to unfavourable market sentiment, particularly in terms of valuation. “As is obvious, big-ticket fundraises are not easy right now, and valuations are being reassigned.” “They (PharmEasy) have been talking to multiple investors but may postpone the process due to current market conditions,” a source said.

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We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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PharmEasy plans to raise INR 750 crore through a rights issue

Following the cancellation of its initial public offering (IPO), epharmacy PharmEasy has reportedly begun a rights offering to raise up to INR 750 Cr through convertible notes. The matter is expected to be resolved by the middle of October.

“There is a commitment of INR 750 Cr from existing investors, and they (investors) are currently subscribing to the rights issue pro-rata,” a source told the Economic Times. According to people familiar with the situation, the startup is ‘unsure’ about a new funding round due to unfavourable market sentiment, particularly in terms of valuation. “As is obvious, big-ticket fundraises are not easy right now, and valuations are being reassigned.” “They (PharmEasy) have been talking to multiple investors but may postpone the process due to current market conditions,” a source said.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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