Online E-pharmacy platform PharmEasy has filed a draft red herring prospectus (DRHP) in order to raise $84 million in the public market. Unlike others, the startup will raise the entire offer amount through a new share issuance, as its existing investors will not sell their existing shares.
However, just like other Indian startups going for its public offering, PharmEasy has also reported a significant rise in its loss in the last financial year ended in March’21. The company’s revenue soared from $99 million in FY 2020 to $316 million in FY 21, a 220% jump PharmEasy posted a loss of $86 million in March ended FY 21, a 91% increase from $45 million it posted in FY 20. PharmEasy posted a loss of $86 million in FY21, a 91% increase from $45 million it posted in FY20.