Thyrocare promoter Docon Technologies sells 10% stake for Rs 667 crore

New Delhi: Docon Technologies, one of the promoters of Thyrocare Technologies, on Friday divested a 10 per cent stake in the diagnostics chain for Rs 667 crore through an open market transaction.

According to the bulk deal data on the National Stock Exchange (NSE), Docon Technologies offloaded a little over 53.32 lakh shares, or 10.06 per cent stake, in the company.

The transaction was valued at around Rs 667.69 crore, and was executed at an average price of Rs 1,252.03 apiece.

After the stake sale, Docon Technologies' holding in Thyrocare Technologies has come down to 61 per cent from 71.06 per cent.

Meanwhile, ICICI Prudential Mutual Fund (MF), Aditya Birla Sun Life MF, HDFC MF, HSBC MF, Eastspring Investments collectively purchased 42.11 lakh shares, or 7.95 per cent stake, at an average price of Rs 1,252 per share.

Eastspring Investments is an arm of British multinational Prudential.

This took the deal value to Rs 527.23 crore.

Details of the other buyers of Thyrocare Technologies shares could not be ascertained on the NSE.

In a regulatory filing, Thyrocare Technologies on Friday said Docon Technologies Pvt Ltd, a promoter of the company, has sold 53,32,860 equity shares of the company through market trades for an aggregate gross consideration of Rs 667.69 crore.

The company sold about 10 per cent of the total paid-up capital.

"Following this transaction, Docon continues to be a promoter of the company. Post this transaction, the promoter shareholding in the company stands reduced to 60.93 per cent from the pre-transaction shareholding of 70.98 per cent," Thyrocare Technologies said.

Shares of Thyrocare Technologies rose 1.99 per cent to close at Rs 1,269.70 apiece on the NSE.