API Holdings becomes debt-free after ₹1,050 crore repayment

API Holdings, the parent company of PharmEasy and Thyrocare Technologies, has become debt-free after repaying ₹1,050 crore in outstanding term loans. The repayment was funded through a combination of internal accruals and the sale of a portion of its stake in Thyrocare Technologies.

To facilitate the repayment, Thyrocare promoter Docon Technologies sold approximately 1.58 million shares via open market trades, representing about 9.90% of the company’s paid-up equity share capital. Despite the sale, Docon Technologies retains a 51.02% controlling stake in Thyrocare.

The transaction has resulted in the release of pledges on the remaining Thyrocare shares previously held by Docon in favor of Catalyst Trusteeship. Group CFO Alok Kumar Jagnani stated that the company achieved this milestone without diluting its stake in Thyrocare below 51%, aiming to create a clean financial base for future profitable growth across its healthcare portfolio.