 "Exploring windows to enhance shareholder value: Thyrocare Technologies")
Amid reports that suggested Pharmeasy was looking to acquire a stake in A Velumani-led diagnostics player Thyrocare, the latter clarified to the stock exchanges on Thursday that it “keeps exploring” opportunities to enhance shareholder value.
In a statement to the BSE, Thyrocare said, "The company during its normal course of business keeps exploring various opportunities to enhance shareholder value."
Earlier in the day, media reports suggested Pharmeasy, an online pharmacy, was looking to acquire Thyrocare Technologies for Rs 7,000 crore.
Thyrocare's market capitalisation is around Rs 6,916 crore. The deal thus could be for a shareholding in the firm. The report further claimed that through the deal, the Thyrocare promoters were looking to offload a stake that is likely to trigger an open offer for shareholders.
The promoters held a 66.14 per cent stake in Thyrocare as of March. Thyrocare posted a revenue of Rs 474 crore in FY21.
In a statement to the BSE, Thyrocare said, "The company during its normal course of business keeps exploring various opportunities to enhance shareholder value."
Earlier in the day, media reports suggested Pharmeasy, an online pharmacy, was looking to acquire Thyrocare Technologies for Rs 7,000 crore.
Also Read
The promoters held a 66.14 per cent stake in Thyrocare as of March. Thyrocare posted a revenue of Rs 474 crore in FY21.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%