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.