Thyrocare Technologies Approves ₹141.40 Crore Nuclear Healthcare Sale; Shares Rise 3.09%

Mumbai September 21: Thyrocare Technologies Limited has approved the sale of its entire shareholding in Nuclear Healthcare Limited, its material wholly owned subsidiary, for total consideration of approximately ₹141.40 crore, while also approving the purchase of certain properties from the subsidiary for ₹20.59 crore.

The decisions were approved at the company’s Board meeting on September 21, 2026, as part of a restructuring of its radiology business.

Thyrocare To Exit Nuclear Healthcare Business

According to the exchange filing, Thyrocare will sell its entire holding of 1,11,11,000 equity shares in Nuclear Healthcare Limited to Trovera Healthcare Private Limited, subject to approval from Thyrocare shareholders and other applicable regulatory and contractual conditions.

The consideration includes 42,500 Compulsorily Convertible Preference Shares of Trovera, valued at ₹59.50 crore, along with a cash component of approximately ₹81.90 crore. The cash portion will be subject to adjustments based on the working capital position determined under the proposed Share Purchase Agreement.

Thyrocare said Nuclear Healthcare operates a radiology and diagnostic imaging business that requires continued investment in equipment, technology, maintenance and infrastructure. Following an evaluation of various strategic options, the company has decided to divest the business and focus its capital and management attention on its core pathology operations.

Stock Market Snapshot

The Thyrocare share price stood at ₹573.00, up ₹17.20 or 3.09%, as of 3:19:41 PM IST on September 21, 2026, according to the market data shown.

The stock moved higher from around ₹555 at the start of the session and crossed ₹560 during the morning. It later traded in the ₹565 to ₹570 range before moving higher again in afternoon trade.

The shares touched levels above ₹574 during the session before standing at ₹573 at the latest available timestamp.

Trovera To Acquire Nuclear Healthcare Stake

Trovera Healthcare Private Limited will acquire Thyrocare’s entire shareholding in Nuclear Healthcare as part of the proposed transaction.

The transaction is not classified as a related-party transaction. Trovera was incorporated on June 16, 2026 and is engaged in, or proposes to engage in, healthcare and diagnostic services.

Following completion of the transaction, Nuclear Healthcare will cease to be a wholly owned subsidiary of Thyrocare and the company will no longer exercise control over the business.

The transaction is expected to be completed on or before November 30, 2026, subject to the required approvals and conditions.

Thyrocare To Receive Trovera Preference Shares

As part of the consideration, Thyrocare will acquire 42,500 CCPS of Trovera at an issue price of ₹14,000 per share.

The CCPS will have a face value of ₹10 each and are being issued at a premium of ₹13,990 per share. They represent approximately 4.5% of Trovera’s share capital on a fully diluted basis.

The CCPS are convertible into equity shares of Trovera at a 1:1 ratio, subject to the terms disclosed in the filing. Thyrocare will also have certain rights under the proposed arrangement, including the ability to nominate up to three directors on Trovera’s Board.

Thyrocare Approves ₹20.59 Crore Property Purchase

Separately, the Board has approved the purchase of land and buildings in Gurugram, Haryana and Hyderabad, Telangana from Nuclear Healthcare for an aggregate consideration of ₹20.59 crore, excluding applicable stamp duty, registration charges and other costs.

Thyrocare currently operates diagnostic laboratory facilities at these premises and pays rent to Nuclear Healthcare for their use.

The proposed purchase is intended to secure continued ownership of the operating premises as Thyrocare restructures its relationship with Nuclear Healthcare. The transaction is proposed to be completed before or simultaneously with the completion of the sale of Nuclear Healthcare.

Nuclear Healthcare Contributes 5.38% Of Thyrocare Revenue

For the financial year ended March 31, 2026, Nuclear Healthcare reported turnover of ₹44.62 crore, representing 5.38% of Thyrocare’s consolidated turnover.

Its net worth stood at ₹83.55 crore as of March 31, 2026, equivalent to 14.27% of Thyrocare’s consolidated net worth excluding non-controlling interest. Nuclear Healthcare’s profit after tax represented 10.9% of Thyrocare’s standalone total revenue for the year.

The figures highlight the scale of the radiology business within the wider Thyrocare group, even as the company moves to exit the segment.

Thyrocare Sharpens Focus On Pathology Business

The proposed transaction will allow Thyrocare to move away from the radiology and diagnostic imaging operations housed under Nuclear Healthcare.

The company said the decision follows an evaluation of alternatives for the business and is aimed at allowing Thyrocare to focus capital and management resources on its core pathology operations.

At the same time, the proposed purchase of the Gurugram and Hyderabad properties is intended to maintain continuity for Thyrocare’s existing diagnostic laboratory operations at those locations.

Conclusion

Thyrocare Technologies has approved the sale of its entire stake in Nuclear Healthcare Limited to Trovera Healthcare Private Limited for total consideration of approximately ₹141.40 crore.

The consideration comprises ₹59.50 crore through 42,500 Trovera CCPS and approximately ₹81.90 crore in cash, subject to the agreed working capital adjustment mechanism. The transaction is expected to close by November 30, 2026, subject to approvals and other conditions.

Separately, Thyrocare will purchase land and buildings in Gurugram and Hyderabad from Nuclear Healthcare for ₹20.59 crore. The restructuring is aimed at exiting the radiology business while retaining the operating premises required for its diagnostic activities.

Meanwhile, the Thyrocare share price stood at ₹573.00, up ₹17.20 or 3.09%, as of 3:19:41 PM IST on September 21, 2026.

Source:

• https://www.nseindia.com/get-quote/equity/THYROCARE/Thyrocare-Technologies-Limited
• https://nsearchives.nseindia.com/corporate/THYROCARE_21092026150858_Outcome_Intimation-BM.pdf