India, Aug. 17 -- image credit- freepik

API Holdings, India's largest digital healthcare platform and the ultimate parent company of Thyrocare, has become debt-free after repaying its outstanding debt of Rs 1,050 crore, funded through proceeds from the recent sale of a portion of its stake in Thyrocare Technologies and internal accruals.

The development comes after Docon Technologies, the promoter and holding company of Thyrocare, sold 1,57,69,696 Thyrocare shares, representing around 9.90% of the company's paid-up equity share capital, through market trades. Following the sale, Docon continues to remain the promoter and holding company of Thyrocare with a 51.02% stake.

The debt payment has also resulted in the release of the pledge on...