The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Docon Technologies Pvt Ltd
THYROCARE · price
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Docon Technologies, the promoter of Thyrocare, has pledged 3,23,23,232 equity shares (60.99% of Thyrocare's total share capital) in favour of Catalyst Trusteeship Limited, acting as debenture trustee. The pledge secures new secured, unlisted, redeemable non-convertible debentures issued by API Holdings (the ultimate holding company) aggregating up to Rs 1,700 crore in nominal value. The proceeds of the new debentures were used to fully redeem the existing debentures of API Holdings, which had an outstanding redemption value of Rs 1,820 crore (nominal value Rs 1,545.38 crore). Docon continues to hold 71.06% of Thyrocare post-pledge, with voting rights on the encumbered shares retained by the pledgor.
While the promoter retains full ownership and voting rights, 60.99% of the company's shares are now pledged as collateral for parent-level debt, which increases risk for minority shareholders if API Holdings defaults on the new debentures. The shareholding structure and total promoter stake remain unchanged at 71.06%.