Exclusive: Why did Thyrocare sell stake? What is A Velumani's plan ahead- Know the details with Anil Singhvi

Thyrocare Technologies Limited's Promoter and Chairman and Managing Director (CMD) A Velumani has sold over 66 percent of his stake to online healthcare start-up PharmEasy for Rs 4,546 cr. In an exclusive interview with Anil Singhvi, Managing Editor at Zee Business, Velumani talks about this move and why he has a unique strength in decision making.

"After the decision was made everyone wrote emotional letters and cried. I have a unique strength in making decision," he said. 

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Velumani said that for three continuous years, his shares were trading around Rs 400 and over the last 18 months they have reached to levels around Rs 1400. Likening this to a double century (in cricket parlance), he said that he decided to announce retirement at the peak so that the world would remember. 

"One thing I want to say is that if everyone is shocked then it means that the decision is very good," Velumani said. He added that he did a small analysis and took the decision and over the last three days, he has been seeing people being shocked over his decision.

#Thyrocare को खरीदेगी #Pharmeasy

₹4,546 करोड़ में बिका 66.1% हिस्सा

थायरोकेयर ने क्यों बेची हिस्सेदारी?

क्या है ए वेलुमणि का आगे का प्लान?

अनिल सिंघवी के साथ @Thyrocare के CMD से खास चर्चा

देखिए पूरा इंटरव्यू: https://t.co/QrGb6VZiFv#ZBizExclusive @AnilSinghvi @velumania pic.twitter.com/ZpyrqWDOaH

— Zee Business (@ZeeBusiness) June 28, 2021

"I love taking risk and Thyrocare is among the top 4 in the diagnostics business and it should also be in the top 4 in the healthcare industry and for that, there is a need to change the vehicle," he added.  

Speaking on his next move Velumani said that PharmEasy bought shares of his company and he too bought shares of their company. Velumani said that he will keep shares in API holdings and will also invest.

Velumani informed that out of Rs 4,500 crore only Rs 1,500 crore will be going to API and for the rest of the Rs 3000 crore, he and his family will decide where to invest. He said that he wants to invest in a company or in entrepreneurs who will create jobs.

On the issue of what lies ahead for the company and investors after the takeover process is complete, Velumani said "I have spoken to them several times but it is not right to say it publicly."

He added that the acquirers have all the options open in front of them. They can choose to run the company as an independent listed entity or can merge it with the company or can separately list the company or even merge the companies after separate listing. "... So there are lots of options and they are dynamic," he added.