PharmEasy

PharmEasy plans to re-enter the IPO market following a major business overhaul. The company aims to discuss its IPO strategy, including a potential merger with Thyrocare, at its February board meeting

Siddharth Shah, chief executive officer (CEO) and managing director (MD) of PharmEasy has also invested in the new venture in his personal capacity

This move will lead to Thyrocare integrating Polo Labs' 14 laboratories spread across Punjab, Haryana, and Himachal Pradesh into its existing network

According to a report, the Mumbai-based firm has also been trying to raise Rs 3,500 crore since August 2023 to repay the debt it took from Goldman Sachs

Online pharmacy dropped plan for an IPO in 2022, says it is cutting down expenses

Besides Pai's commitment, PharmEasy raised the remaining Rs 2,200 crore from existing shareholders

Tata 1mg now holds 31% of the market share, up from 19% in October 2022. PharmEasy's market share decreased to 15% from 33% in the same period

He said in November 2022, the firm had aimed for profitability by April 2023

The company has received the approval from Therapeutic Goods Administration (TGA)

Omnichannel pharmacy chain in talks to raise ~2,400 cr: if successful, will be first fundraise by a unicorn at a discount

The fundraising will be done via a rights issue where the stock will be sold at a 90 per cent discount at Rs 5 per share

Several other Indian startups such as Meesho, Swiggy, Byju's, Pine Labs, and Ola have seen similar cuts in their valuations

Neuberger Berman, another US investor, earlier marked down valuation of shares it holds in online pharmacy's parent

Fintech firm's valuation cut by 38% and online pharmacy's by 21% as start-up investors battle macroeconomic uncertainties

The company has a total workforce of about 1500

Development follows shelving of IPO plans by several notable firms such as Image Marketing (owner of wearable brand Boat), Droom Technology and PharmEasy

Technology investor Prosus on Wednesday reported widening of its consolidated trading loss to USD 80 million, about Rs 654 crore, on account of investment in PayU India business during first half of the current fiscal. The Netherlands-based investor firm, however, registered a 59 per cent growth in total payments volume (TPV) at USD 28 billion, about Rs 2.29 lakh crore, in India. PayU revenue increased to USD 183 million, about Rs 1,497 crore. "Consolidated trading losses expanded to USD 80 million, as we continued to invest in growing our credit operations in India. In India, our largest payments market, TPV grew 59 per cent to USD 28 billion, and revenue increased 48 per cent to USD 183 million, following increased digitalisation in e-commerce, financial services and bill payments, and a rebound in post pandemic travel," the company said. The Prosus group's overall trading loss widened to USD 1.4 billion during the reported period from USD 2.8 billion a year ago. The revenue of

Share prices, trading activity slump amid rising uncertainty for startup listings

Financing will help Elev8 identify investment opportunities in Indian technology companies

Debt financing platform's investment amount was not revealed; it will make equity infusion later