Pharmeasy with a 90% cut in valuation
https://economictimes.indiatimes.com/tech/startups/pharmeasy-plans-rs-2400-crore-rights-issue-at-90-cut-in-share-price/articleshow/101510154.cms
Pharmeasy has raised a total of $1.6 billion in funding till now.... And now valued at 500 millions $.... I hope VC who were bullish over India's decade have egg on their face now.
this is not a good thing, if vcs get egg on their face they wont invest in india anymore and thats bad for us, we will have to move out of india
Its stock was being sold at 130 per share pre ipo.their stupid ceo paid so much fr thyrocare. N thyrocare founders sold n exited a competitive market.
Watsay49
Stealth
a year ago
Rights issue at lower price doesn't mean valuation has reduced. Check last rights issue price of Voda-Idea, Airtel and several others. Rights issues are generally done when company is unable to raise money at a high valuation from new investors but existing investors are willing to contribute. Lower price forces existing disinterested investors to participate, else make peace with getting diluted.
Pharmeasy is easily a 2+ BN dollar company
Raj1108
Stealth
a year ago
I know pharmeasy founders very well.
This is just a moment where everyone looks like a ghost but people who blame them for deep discounting to acquire customer will be proven wrong.
Because this is just 10% of their business, 90% comes from B2B with good margin.
Scrooge_McDuck
Stealth
a year ago
On a 5000 Cr revenue it has a -2700 Cr loss and -2500 negative cash margins. What good margins are you on about? Current valuation takes their stock price at rs 9 from a peak of 135 in unlisted market. They took debt to buy a listed company thyrocare whose promoter probably laughed at the money they were giving him as he would never have got that valuation in the listed space. Now they are raising funds aat this valuation to pay off that stupid debt they took for the aquisition.
ObtuseCutie
Stealth
a year ago
Major regulations coming in this market is what people are saying regarding why companies like pharmeasy are finding it difficult
Cafeinatedpragmatist
Stealth
a year ago
Is it? Has any circular come yet? Genuinely interested
ObtuseCutie
Stealth
a year ago
Yupp there was an entire finshots episode on this issue infact. Govt is getting fairly strict with regulation in this space.....
See more comments
CelebiMew
Stealth
a year ago
I have some Pre-IPO shares. 🤞:' )
India is not a small market, but its a competitive market and businesses need to know how to sell to this value conscious audience. Not all users r fang devs who pay any money fr services not needed.
Discover More
Curated from across
