PharmEasy Plans to Raise Rs 2,400 Crore; Manipal Group May Invest Rs 1,000 Crore

  • PharmEasy is expected to raise Rs 2,400 crore via a discounted rights issue aimed at repaying its debt to Goldman Sachs.
  • API Holdings, PharmEasy’s parent company, will issue new stock at Rs 5 per share, while the Manipal Group is predicted to invest approximately Rs 1,000 crore for an 18% stake.
  • The novel fundraising round may occur at a valuation between $500-600 million, markedly down from its previous valuation of $5.6 billion in 2021.
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