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