HomeStartupPharmEasy bags Rs 1,300 crore from Ranjan Pai, Rs 3,500 cr rights...

PharmEasy bags Rs 1,300 crore from Ranjan Pai, Rs 3,500 cr rights issue oversubscribed

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  1. Ranjan Pai, chairman of Manipal Education and Medical Group, pledges Rs 1,300 crore investment in PharmEasy’s rights issue.
  2. Pai’s investment is part of PharmEasy’s larger fundraising of Rs 3,500 crore, oversubscribed at Rs 3,950 crore.
  3. After the investment, Pai becomes the largest shareholder, holding an estimated 13-14% stake, surpassing Prosus.
  4. PharmEasy’s parent company, API Holdings’ share structure post-investment remains unconfirmed.
  5. A portion of the funds raised will be utilized to reduce PharmEasy’s debt, which stands at $300 million from Goldman Sachs.
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