PharmEasy's Valuation Rollercoaster Ride

PharmEasy, the epharmacy giant, recently raised INR 1,804 Cr through a rights issue, but at a jaw-dropping 90% valuation cut. API Holdings, the parent company, issued 18.63 Cr CCPS B at INR 96.8 each, a far cry from its peak valuation of $5.6 Bn in October 2021. This rollercoaster journey began with a INR 3,500 Cr rights issue last year, attracting big names like MEMG Family Office, Goldman Sachs, Prosus, and Temasek. PharmEasy's valuation may have taken a hit, but its resilience in the face of challenges is a testament to its unwavering spirit.