PharmEasy, a major healthtech player, recently appointed Yatharth Bhargova as the new Group CFO of its parent company, API Holdings. He took over in September, bringing eight years of experience from OLX. This move follows the departure of former CFO CV Ram in October 2022.

Before Bhargova, Abhinav Jain and Milind Pattarkine managed group activities. Abhinav, with nearly seven years at PharmEasy, stepped down in October. Yatharth Bhargova then became the new full-time Group CFO.

This strategic move is crucial as PharmEasy works to settle its debt with Goldman Sachs after successfully raising INR 3500 Cr from Investors via Right issue at INR 4.85 per share. After breaching loan covenant terms earlier this year, the startup has now raised equity. The debt stemmed from acquiring Thyrocare in 2021.

PharmEasy withdrew its IPO in 2022 and sought capital actively. In July, a rights issue raised funds, with strong support from shareholders. The goal was to reduce the debt owed to Goldman Sachs. Key investors committed to investing, including Temasek Holdings, CDPQ, LGT, ADQ, and Ranjan Pai of Manipal Health Enterprises.

Founded in 2015, PharmEasy operates in online medicine sales and diagnostics. It raised $1 Bn with backers like B Capital, Temasek, Eight Roads Ventures, Prosus, and Bessemer Venture Partners.

Pharmeasy in Unlisted Space 

Talking about Pharmeasy unlisted shares, they aren't performing well. In the unlisted space, Pharmeasy unlisted shares have been hot shares but looking at the past one year journey of Pharmeasy unlisted shares price, they are continuously falling. The Pharmeasy unlisted shares price dropped 90% from its peak.  High supplies of Pharmeasy unlisted shares are pushing the price down. In Feb 2022, the share price was trading around INR 65-70 which is now trading around INR 10-12.