True North Sells Zydus Wellness Stake for Rs 374 Crore
Aug 06, 2024 21:00
True North's arm Threpsi Care LLP divested a 2.6% stake in Zydus Wellness for Rs 374 crore, with Quant Mutual Fund acquiring the shares. This transaction reduced True North's stake in Zydus Wellness to 7.45%.
Illustration: Uttam Ghosh/Rediff.com
New Delhi, Aug 6 (PTI) Private equity firm True North's arm Threpsi Care LLP on Tuesday divested a 2.6 per cent stake in Zydus Wellness for Rs 374 crore through an open market transaction, while Quant Mutual Fund picked up the stake in the consumer wellness company.
According to the block deal data available on the National Stock Exchange (NSE), Threpsi Care LLP sold 17 lakh shares, amounting to a 2.67 per cent stake in Ahmedabad-based Zydus Wellness.
The shares were disposed of at an average price of Rs 2,201.40 apiece, taking the transaction value to Rs 374.24 crore.
After the share sale, Mumbai-based True North's stake in Zydus Wellness has reduced to 7.45 per cent from 10.12 per cent.
These shares were acquired by Quant Mutual Fund at the same price.
Shares of Zydus Wellness fell 0.16 per cent to close at Rs 2,220 per piece on the NSE.
In December last year, True North through its arm Threpsi Care LLP divested a 1.23 per cent stake in Zydus Wellness for Rs 127 crore.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.