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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The online drugs and medical services startup made some costly acquisitions in a bid to pull off an IPO at a high valuation. That plan may be coming unstuck.
Editor's note: On Monday, Reuters reported that online drugs and medical services startup PharmEasy was looking to raise $200 million. What was disturbing was that the company was prepared to do it at a lower valuation than it last raised money at. That PharmEasy would want to raise $200 million was first reported in The Economic Times in May, when the company was in talks with Goldman Sachs to raise a debt of Rs 2,700 crore (about $340 million). The Reuters report said PharmEasy was open to offering a 15% or even 25% discount to last year's $5.1 billion valuation. Clearly, PharmEasy’s story is beginning to look grimmer by the day and the contagion of poor IPO markets for startups is weighing down a business that looked great until a year ago. In November 2021, PharmEasy’s parent, API Holdings, filed its draft red herring prospectus with market regulator SEBI stating its intent to raise Rs 6,250 crore. Its claim to fame was that it was the biggest e-pharmacy business in the country, ahead of competitors like 1mg and Netmeds, which were later …
Who’s going to lead the IPO party, what’s going to drive the market, where are some of the leading businesses headed, and more.
Finally, this question will be answered. Who has returned the most amount of capital on any venture investment in India in the last two decades?
The food and grocery delivery company’s idea of providing prescription drugs in 10 minutes is facing resistance from traditional pharma players.
