Docon Frees Thyrocare Stake: API Debt Repaid

Docon Technologies Private Limited, a wholly-owned subsidiary of API Holdings Limited, has announced the release of a pledge on 3,76,56,092 equity shares of Thyrocare Technologies Limited, representing 71.06% of Thyrocare's equity share capital. These shares were previously pledged to Vistra ITCL (India) Limited as debenture trustee for existing debentures of API.

This release follows API Holdings Limited's issuance of new proposed debentures aggregating up to ₹1,700 crore, the proceeds of which will be used to redeem the existing debentures with a current outstanding nominal value of ₹1,545.38 crore. The total outstanding redemption value for the existing debentures was ₹1,820 crore.

The disclosure was made pursuant to Regulations 29(2), 31(2), and 31(3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, indicating a significant change in the financial arrangements for Docon Technologies' stake in Thyrocare.