Pharmeasy founder says failure to deleverage was key reason for debt saga

Siddharth Shah, cofounder and vice chairman of API Holdings, the parent company of PharmEasy and Thyrocare, on Tuesday said the company’s biggest mistake was not using available capital to repay debt, and instead using it to chase growth and secondary share purchases.Shah’s comments came a day after API Holdings repaid Rs 1,050 crore of debt, becoming debt-free after years of pressure on its balance sheet following the acquisition of Thyrocare.