PharmEasy parent repays Rs 1,050 crore, becomes debt-free

API Holdings, the parent company of PharmEasy, has repaid Rs 1,050 crore in outstanding debt, making the digital healthcare platform debt-free. The repayment was funded through the sale of a portion of its stake in Thyrocare Technologies and internal accruals. As part of the process, promoter Docon Technologies sold about 1.58 million Thyrocare shares, representing roughly 9.9 per cent of the company's paid-up equity, via open market trades.

Following the sale, Docon continues to hold a 51.02 per cent controlling stake in Thyrocare. The debt payment has also led to the release of the pledge on the remaining Thyrocare shares held by Docon. Inc42 reports that the entire outstanding pledge linked to the debt has now been released, leaving Docon's holding fully unencumbered. The Hindu Businessline adds that the Thyrocare acquisition has worked out well for API, with shareholders seeing a 51 per cent return since July 2021.