PharmEasy plans to raise INR 750 crore through a rights issue

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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.

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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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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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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