PharmEasy founders step back to launch new venture in consumer space

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PharmEasy founders step back to launch new venture in consumer space - Business Standard

Quick Summary:

In 2023, PharmEasy secured Rs 1,300 crore from Ranjan Pai of the Manipal Group as part of a Rs 3,500 crore rights issue.

The founders confirmed that this marks their step back from the day-to-day operations of the e-pharmacy startup.“This operational handover has been in the works for over a year.

The funds will also be used to reduce PharmEasy's $300 million debt owed to Goldman Sachs, part of which is due for repayment soon.