PharmEasy breaches Goldman Sachs loan covenant of raising $120 Mn
Image Credit: outlook india
Epharmacy unicorn PharmEasy has reportedly breached its loan covenant terms with Goldman Sachs, within a year after raising high-cost debt from the US-based lender. Per the loan terms, PharmEasy was supposed to raise an equity round of around INR 1,000 Cr ($120 Mn), linked to its burn rate. However, it has failed to raise the round after trying for a year and postponing its initial public offering (IPO).