Search
+
Invest with Confidence. Lead with Insights.
  • Drench in the knowledge with exclusive insights, ePaper & smart market tools with ETPrime.

Interviews

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.’
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.

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 )
  • FONT SIZE
  • SAVE
  • PRINT
  • COMMENT
New Feature Refer & Earn
ET

Uh-oh! This is an exclusive story available for selected readers only.

Worry not. You’re just a step away.

The Economic Times