API Holdings Becomes Debt-Free After Repaying INR 1,050 Cr
API Holdings has repaid its INR 1,050 crore term loan, becoming debt-free after selling a 9.90% stake in Thyrocare.
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API Holdings, the parent company of PharmEasy and Thyrocare, has repaid its outstanding term loan of INR 1,050 crore, making the company debt-free.
The repayment was funded through proceeds from the sale of part of its stake in Thyrocare Technologies and internal accruals.
Rahul Guha, MD & CEO, API Holdings and Thyrocare, said, “Zero debt isn’t the finish line; it’s the starting gun. This wasn’t financial engineering; it was Thyrocare’s and the group’s execution, quarter after quarter, that made it possible. What the team proved is bigger than a balance sheet: this organisation can execute on anything it sets its mind to. That’s the real asset we’re carrying into the next chapter.”
Docon Technologies Private Limited, the promoter and holding company of Thyrocare, sold 1,57,69,696 Thyrocare shares, representing around 9.90% of the company’s paid-up equity share capital. Following the sale, Docon continues to hold a 51.02% stake in Thyrocare.
The repayment also led to the release of the pledge on Docon’s remaining Thyrocare shares. Its 51.02% holding is now fully unencumbered.
Alok Kumar Jagnani, Whole-Time Director and Group CFO, API Holdings, said, “We’ve repaid our term debt in full, and we did it the hard way, without diluting our stake in Thyrocare below 51%. That’s the real headline: a stronger balance sheet without giving up our ownership.”
The company said it will now focus on profitable growth and execution across its healthcare businesses.
API Holdings, the parent company of PharmEasy and Thyrocare, has repaid its outstanding term loan of INR 1,050 crore, making the company debt-free.
The repayment was funded through proceeds from the sale of part of its stake in Thyrocare Technologies and internal accruals.
Rahul Guha, MD & CEO, API Holdings and Thyrocare, said, “Zero debt isn’t the finish line; it’s the starting gun. This wasn’t financial engineering; it was Thyrocare’s and the group’s execution, quarter after quarter, that made it possible. What the team proved is bigger than a balance sheet: this organisation can execute on anything it sets its mind to. That’s the real asset we’re carrying into the next chapter.”
Docon Technologies Private Limited, the promoter and holding company of Thyrocare, sold 1,57,69,696 Thyrocare shares, representing around 9.90% of the company’s paid-up equity share capital. Following the sale, Docon continues to hold a 51.02% stake in Thyrocare.
The repayment also led to the release of the pledge on Docon’s remaining Thyrocare shares. Its 51.02% holding is now fully unencumbered.
Alok Kumar Jagnani, Whole-Time Director and Group CFO, API Holdings, said, “We’ve repaid our term debt in full, and we did it the hard way, without diluting our stake in Thyrocare below 51%. That’s the real headline: a stronger balance sheet without giving up our ownership.”
The company said it will now focus on profitable growth and execution across its healthcare businesses.
