Docon Sells 9.9% Stake in Thyrocare for Rs 986 Crore

Docon Technologies, a key promoter of Thyrocare Technologies Ltd, divested a 9.9% stake in the diagnostics firm, generating Rs 986 crore through multiple transactions on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). The stake sale involved 1,57,69,696 equity shares, as reported on August 14, 2026.

Transaction Details and Stake Reduction

The shares were sold within a price range of Rs 624 to Rs 631.71 each, resulting in a total transaction value of Rs 985.86 crore. Following this significant offload, Docon's ownership in Thyrocare decreased from 60.92% to 51.02%. The sale was executed through a combination of block and bulk deals. Specifically, more than 1.31 crore shares were sold via block deals, while 10 lakh shares were exchanged through bulk deals on the NSE. Additionally, 16.01 lakh shares were sold through a bulk deal on the BSE.

Institutional Investors Show Strong Interest

The stake sale attracted substantial interest from a diverse group of institutional investors, including mutual funds such as HSBC, DSP, ICICI Prudential, Aditya Birla Sun Life, WhiteOak Capital, and ITI. Life insurance companies like Kotak Mahindra and Tata AIA also participated. International players, including Morgan Stanley, Citigroup Global Markets, HBM Healthcare Investments (Cayman), and the Kuwait Investment Authority, engaged in the transactions through block deals on the NSE.

Market Reaction and Historical Context

In the wake of the transaction, Thyrocare Technologies' share prices experienced a modest increase, rising nearly 3% to Rs 621.95 on the NSE and over 2% to Rs 622 on the BSE. This latest divestment follows Docon's previous sale of a 10% stake in Thyrocare for Rs 667 crore in October of the preceding year, indicating a continued strategic reshaping of its holdings.