Thyrocare Tech drops after promoter sells 9.90% stake following pledge release

Thyrocare Technologies fell 4.58% to Rs 613.50 after promoter Docon Technologies sold 1,57,69,696 equity shares, or 9.90% equity, of the diagnostic services company through market trades.

The stake sale came two days after Catalyst Trusteeship, acting as debenture trustee, released the pledge on 1,75,00,000 Thyrocare shares, or 10.99% equity, held by Docon on 11 August 2026. The release reduced the number of encumbered shares but did not change Docon's overall shareholding in Thyrocare.

As of June 2026, Docon held 9,69,69,696 shares, representing a 60.92% stake in Thyrocare. Following the sale of 1,57,69,696 shares, its shareholding declined to 51.02% of the company's paid-up equity. Docon continues to remain a promoter and holding company of Thyrocare.

The shares sold were part of Docon's holding in Thyrocare. Docon had earlier pledged its entire 9,69,69,696-share holding as security for non-convertible debentures issued by API Holdings, its parent company. Following the release of the 1.75 crore-share pledge, the encumbered portion stood at 7,94,69,696 shares, or 49.93% of Thyrocare's total share capital.

The outstanding principal amount of the NCDs issued by API Holdings stood at Rs 1,050 crore as of the date of the disclosure.

Thyrocare Technologies is a fully automated laboratory chain with a pan-India presence. The company reported a strong Q1 FY27, with consolidated revenue rising 24.3% YoY to Rs 240.02 crore and PAT increasing 34.1% YoY to Rs 51.33 crore.

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