PharmEasy’s uneasy downround: Not all shareholders happy with prescription

PharmEasy’s plan to take a 90% cut in valuation in an upcoming internal funding round has not gone down well with all shareholders. It will be one of the biggest value erosions and among the first such downrounds for the unicorn if the round goes through. PharmEasy’s shares are likely to be valued around INR5 apiece for a rights issue, thus valuing the company at a mere USD500 million, down from the over USD5 billion valuation it had commanded