Episode Details

Pharmeasy, once the highest-valued Indian healthcare startup, is planning to raise money in a new round of funding at a 90% markdown from its previous valuation.

From $5.6 billion to $500 million. 

All because Pharmeasy had to take another debt to pay off its previous debt. The second time though, interest rates were not zero.

What's going on?

Tune in.

Recommendation

Byju’s is looking like a hedge fund

The tail of acquisitions wagging India’s funding dog

Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.