Docon Technologies' Strategic Stake Sell in Thyrocare: A Rs 667 Crore Move

Docon Technologies sold a 10% stake in Thyrocare Technologies for Rs 667 crore via an open market transaction. Docon's holding in Thyrocare decreased from 71.06% to 61%. Multiple mutual funds and Eastspring Investments purchased a 7.95% stake. Thyrocare shares rose by 1.99% after the transaction.

On Friday, Docon Technologies, a key promoter of Thyrocare Technologies, announced the sale of a 10% stake in the diagnostics chain, amounting to Rs 667 crore, through an open market transaction.

According to the National Stock Exchange's bulk deal data, Docon Technologies disposed of over 53.32 lakh shares at an average price of Rs 1,252.03 each. This transaction decreased Docon's holdings in Thyrocare from 71.06% to 61%.

The stake sale also involved mutual funds such as ICICI Prudential MF, Aditya Birla Sun Life MF, and others purchasing a 7.95% stake for Rs 527.23 crore. The news of the transaction led to an increase in Thyrocare's share price by 1.99% on the NSE.

(With inputs from agencies.)