Thyrocare Technologies has approved the sale of its entire shareholding in Nueclear Healthcare (NHL), its material wholly owned subsidiary, for an aggregate consideration of approximately ₹141.40 crore. According to the latest exchange filing, the decision was approved at the company's Board meeting on September 21, 2026, as part of a restructuring of its radiology business. The decision enables the company to exit the radiology business and focus its capital and management attention on its core pathology business. NHL operates a radiology and diagnostic imaging business that requires continued investment in diagnostic equipment, technology, maintenance and infrastructure.
Under the proposed transaction, Thyrocare will sell 1.11 crore equity shares in NHL to Trovera Healthcare through a proposed share purchase agreement. As reported in the latest filing, the ₹141.40 crore consideration will comprise ₹59.50 crore through 42,500 compulsorily convertible preference shares (CCPS) of Trovera and approximately ₹81.90 crore in cash, subject to a working capital adjustment. The CCPS will be issued at ₹14,000 each, including a ₹13,990 premium, and will represent around 4.5% of Trovera's share capital on a fully diluted basis. 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 proposed sale is expected to be completed on or before November 30, 2026, subject to prior shareholder approval through a special resolution, with specific voting requirements for public shareholders under the applicable SEBI regulations. According to the latest reports, Trovera, incorporated on June 16, 2026, is engaged in, or proposes to carry on, the healthcare and diagnostic services business. It is not part of Thyrocare's promoter or promoter group, and the transaction does not constitute a related-party transaction. As part of the consideration, Thyrocare will acquire certain rights under the proposed arrangement, including the ability to nominate up to three directors on Trovera's Board.
As part of the restructuring, Thyrocare's board has also approved the purchase of land and buildings in Gurugram, Haryana, and Hyderabad, Telangana, from NHL for ₹20.59 crore, excluding applicable stamp duty, registration and other charges. The proposed purchase is intended to ensure continued ownership of the operating premises after the sale of NHL. The company currently operates diagnostic laboratory facilities from these premises and pays rent to NHL for their use. The transaction is proposed to be completed before or simultaneously with the completion of the sale of Nuclear Healthcare.
For FY26, NHL reported turnover of ₹44.62 crore, accounting for 5.38% of Thyrocare's consolidated turnover. Its net worth stood at ₹83.55 crore as of March 31, 2026, representing 14.27% of Thyrocare's consolidated net worth excluding non-controlling interest. According to the latest market data, shares of Thyrocare Technologies were trading at ₹573.00, up ₹17.20 or 3.09% as of 3:19:41 PM IST on September 21, 2026. The stock touched levels above ₹574 during the session before standing at ₹573 at the latest available timestamp. The figures highlight the scale of the radiology business within the wider Thyrocare group, even as the company moves to exit the segment.
