Docon Technologies Pvt Ltd, a promoter entity of Thyrocare Technologies, sold 53.33 lakh equity shares, representing roughly 10% of the company’s paid-up capital, through open market transactions on October 24. The transaction was valued at ₹667.7 crore, with an average price of ₹1,252 per share, according to stock exchange filings.
Following the sale, Docon’s stake in Thyrocare reduced from 71% to 61%, retaining promoter status with 3.2 crore shares. The block sale drew significant participation from domestic mutual funds, highlighting investor confidence in the diagnostics sector. Key buyers included ICICI Prudential Mutual Fund, which acquired 17.49 lakh shares worth ₹218.9 crore, Aditya Birla Sun Life Mutual Fund (10.33 lakh shares for ₹129.3 crore), HSBC Mutual Fund Midcap Fund (6.66 lakh shares for ₹83.4 crore), HDFC Mutual Fund (4.44 lakh shares for ₹55.5 crore), and Eastspring Investments India Consumer Equity Open Limited (3.19 lakh shares for ₹40 crore).
The stake sale comes amid recent leadership transitions within the PharmEasy-Thyrocare group. In August 2025, PharmEasy co-founder and CEO Siddharth Shah stepped down from his executive role to take up the position of Vice Chairman, while Thyrocare’s Rahul Guha was appointed MD and CEO of API Holdings, the parent entity of PharmEasy and Thyrocare. Guha continues to oversee Thyrocare operations alongside his expanded role.
Thyrocare also posted robust financial performance in Q2 FY26, reporting a 22% year-on-year revenue growth to ₹216.5 crore from ₹177.36 crore in Q2 FY25, reflecting strong operational execution.
The transaction reinforces mutual fund interest in healthcare and diagnostics sectors while enabling Docon Technologies to optimize its promoter shareholding strategically.
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