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PharmEasy CEO on 90% drop in share price: ‘Not a valuation cut but a chance to reward shareholders.’

PharmEasy CEO on 90% drop in share price: ‘Not a valuation cut but a chance to reward shareholders.’

Siddharth Shah, CEO, Pharmeasy; image credit: ET Bangalore

Synopsis

Pharmeasy’s INR 3,500 crore-rights issue has been “oversubscribed”, CEO Siddharth Shah says. Shah also talks about the company’s focus on repaying lenders, growth outlook, market share, and more.

By
12 mins read, Last Updated:
PharmEasy has a peculiar malady. The health-tech company held a rights issue over the past few weeks to raise INR3,500 crore to clear its debt. But the board decided to raise money at a share price that is 90% below its peak value. This, despite PharmEasy still being among the leaders in the e-pharmacy segment. Even the sum of parts of its parent company API holdings, which also includes listed player Thyrocare, is more than the current
( Originally published on Oct 30, 2023 )

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