API Holdings, the parent company of PharmEasy and Thyrocare, has repaid Rs 1,050 crore of outstanding debt, becoming debt-free after years of pressure on its balance sheet following the acquisition of the diagnostics chain.The company repaid the debt through proceeds from the sale of a portion of its stake in Thyrocare and internal accruals, it said in a statement on Monday.As part of the transaction, Docon Technologies, the promoter and holding
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Business NewsTechTech & Internet Pharmeasy parent clears Rs 1,050 crore debt, frees Thyrocare stake from pledge
Pharmeasy parent clears Rs 1,050 crore debt, frees Thyrocare stake from pledge
Synopsis
The debt repayment marks the latest step in API Holdings’ efforts to clean up its balance sheet after a difficult period struggling to raise capital and service debt. The company repaid the debt through proceeds from the sale of a portion of its stake in Thyrocare and internal accruals, it said in a statement on Monday.
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