PharmEasy prepares Rs 750 crore funding through convertible notes
- ByStartupStory | October 7, 2022
Online pharmacy startup PharmEasy has kicked off its rights issue to raise up to Rs 750 crore through convertible notes. The issue will be closed by the middle of October.
Prosus Ventures and Temasek – it’s existing investors as well as its founders have subscribed to the issue for shares worth about Rs 200 crore, recent regulatory documents sourced from business intelligence platform Tofler showed. Prosus Ventures and Temasek have subscribed to convertibles worth nearly Rs 100 crore and 90 crore, respectively.
PharmEasy parent API Holdings was last valued at $5.6 billion during a pre-IPO (initial public offering) round.
Startups like Udaan have also raised more than $225 million through convertible debt while the likes of Byju’s and Oyo Hotels & Homes have taken debt via term loan B.
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