Exploring the Dichotomy of Startup Strategies in the Indian Ecosystem

Earlier this week, the Competition Commission of India (CCI) cleared Manipal group chief Ranjan Pai's investment in online pharmacy PharmEasy. So far Pharmeasy, once the highest-valued Indian healthcare startup, has raised Rs 3,500 crore through a rights issue. But it raised this money at a 90 per cent discount to its peak valuation. 

From $5.6 billion to $500 million!

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

What’s happened?

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