The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on September 24, 2025 for Docon Technologies Pvt Ltd
THYROCARE · price
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Docon Technologies Private Limited, the promoter of Thyrocare Technologies, has pledged 3,23,23,232 equity shares (60.99% of total share capital and 85.84% of its own promoter holding) in favour of Catalyst Trusteeship Limited as Debenture Trustee. The pledge secures obligations of API Holdings Limited (Docon's parent) in connection with new secured, unlisted, redeemable non-convertible debentures of up to INR 17,000 million. Proceeds from these new debentures have been used to fully redeem existing debentures of API Holdings worth INR 15,453.80 million. The pledged shares were valued at approximately INR 39,059 million based on the closing price of INR 1,208.4 per share on September 17, 2025, giving an overall security cover of 2.3:1. Docon continues to hold 3,76,56,092 shares (71.06% of total share capital) in Thyrocare.
Ownership of the shares remains with the promoter; only a encumbrance has been created as collateral for parent-level debt refinancing. However, with 85.84% of the promoter's stake now pledged, the risk of invocation in case of default at the API Holdings level has increased, which could potentially lead to a change in control of Thyrocare.