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After pocketing $1 billion from the sale of stake in hospital chain Manipal Health Enterprises to Temasek, healthcare and education, tycoon Ranjan Pai sees niche in deploying confidence capital to entrepreneurs through new family office. In July came a 10-billion-rupee commitment to PharmEasy, the beleaguered online seller of medicines. Valued at $5.6 billion in 2021, the Mumbai-based PharmEasy got weighed down by debt and costly acquisitions. After exiting investments—made in 2015 and 2018—in PharmEasy two years ago, Pai is looking to pick up a steeply discounted stake at a pre-money valuation of $500 million, post a rights issue by PharmEasy. - excerpts Forbes
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