API Holdings repays ₹1,050 crore, frees Thyrocare shares from pledge
Diagnostic chain Thyrocare has sold 1.58 crore Thyrocare shares, representing around 9.90 percent of the company’s paid-up equity capital, through market trades
API Holdings has fully repaid its ₹1,050 crore term debt, freeing Thyrocare shares from a pledge. The digital healthcare platform, which owns Thyrocare, sold 1,57,69,696 of its shares, amounting to around 9.90 percent of the company's paid-up equity capital. The repayment was funded through the sale of a portion of its stake in Thyrocare Technologies and internal accruals.
With the outstanding debt cleared, Docon Technologies, the holding company of Thyrocare, can now fully utilize its 51.02 percent stake without any encumbrance. API Holdings' CEO, Rahul Guha, emphasized that zero debt is not the end goal but a starting point for profitable growth, highlighting the group's execution in making the turnaround possible.
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