Nalanda Equity India Fund offloaded 38,21,394 equity shares, or its entire 7.23% stake, of Thyrocare Technologies on 28 June 2021.
Thyrocare Technologies on Friday (25 June) announced that PharmEasy's parent company, API Holdings has signed definitive documents to acquire 66.1% stake in Thyrocare from promoters Dr A Velumani and affiliates for a price of Rs 4,546 crore. The transaction has triggered an open offer for the purchase of an additional 26% stake in the company. The acquirer has made an open offer to the public shareholders of Thyrocare to acquire up to 1,37,55,077 equity shares, constituting 26% of the expanded voting share capital, at a price of Rs 1,300 per offer share, aggregating to a total consideration of Rs 17,88,16,00,100 (assuming full acceptance). The open offer price is at a discount of 10.22% to Thyrocare's Friday closing price of Rs 1488.05 on BSE.Thyrocare Technologies operates a chain of diagnostic and preventive care laboratories. It reported a consolidated net profit of Rs 37.75 crore in Q4 FY21 compared with net loss of Rs 1.60 crore in Q4 FY20. Net sales during the quarter increased 44.8% year-on-year (YoY) to Rs 146.84 crore.
Shares of Thyrocare Technologies were down 0.17% at Rs 1,319.75 on BSE.
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