Docon offloads 10% stake worth Rs 668 crore in Thyrocare; ICICI, Aditya Birla MF among buyers

Docon Technologies Pvt Ltd, a promoter entity of Thyrocare Technologies Ltd., has offloaded about 53.33 lakh shares, representing nearly 10% of the diagnostics company’s total paid-up capital, through open-market transactions on October 24.

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The sale, valued at Rs 667.7 crore at an average price of Rs 1,252 per share, trimmed Docon’s stake in Thyrocare from 71% to 61%, according to a stock-exchange filing.

The promoter group continues to hold around 3.2 crore shares, maintaining its controlling interest in the company.

The block deal attracted strong interest from domestic institutional investors. ICICI Prudential Mutual Fund acquired 17.49 lakh shares worth Rs 218.9 crore, while Aditya Birla Sun Life Mutual Fund picked up 10.33 lakh shares for Rs 129.3 crore. Other buyers included HSBC Mutual Fund Midcap Fund (6.66 lakh shares; Rs 83.4 crore), HDFC Mutual Fund (4.44 lakh shares; Rs 55.5 crore), and Eastspring Investments India Consumer Equity Open Limited (3.19 lakh shares; Rs 40 crore).

Following the stake sale, Docon said in an exchange filing that its shareholding now stands at 60.93%, down from 70.98% before the transaction. Shares of Thyrocare closed 1.99% higher at Rs 1,269.70 on the NSE.

Thyrocare recently reported a robust second-quarter performance for FY26. Revenue from operations rose 22% year-on-year to Rs 216.5 crore, up from Rs 177.36 crore in Q2 FY25. Net profit surged 81% YoY to Rs 47.9 crore, compared with Rs 26.4 crore in the same period last year. For the first half of FY26, net profit climbed 71% to Rs 86.1 crore.