Mumbai-based True North on Tuesday exited Zydus Wellness by divesting its entire 7.27 per cent stake in the company while PPFAS Mutual Fund acquired the shares for ₹879 crore through an open market transaction.
Private equity firm True North, through its affiliate Threpsi Care LLP, offloaded 46.27 lakh shares or 7.27 per cent stake in Zydus Wellness, as per the block deal on the National Stock Exchange (NSE).
The shares were sold at an average price of ₹1,900 apiece, taking the transaction value to ₹879.15 crore.
Meanwhile, Parag Parikh Financial Advisory Services (PPFAS) mutual fund purchased the shares.
Shares of Zydus Wellness rose 1.16 per cent to close at ₹1,935.60 apiece on the NSE.
In August last year, True North's arm Threpsi Care LLP sold a 2.6 per cent stake in Zydus Wellness for ₹374 crore. Prior to that, the private equity firm in December 2023 offloaded a 1.23 per cent stake in the company for ₹127 crore.
In a separate block deal on the NSE, TVS Motor Company bought 39.50 lakh shares or 0.89 per cent stake in TVS Supply Chain Solutions for nearly ₹57 crore through an open market transaction.
After the stake buy, TVS Motor Company's (a public shareholder) holding in TVS Supply Chain Solutions rose to 5.26 per cent from 4.37 per cent.
As per the data, the shares were acquired at an average price of ₹144 per piece, taking the transaction value to ₹56.88 crore.
Meanwhile, NBFC entity Authum Investment & Infrastructure sold an equal number of shares at the same price on the NSE.
Shares of TVS Supply Chain Solutions fell 1.97 per cent to settle at ₹140.50 per piece on the NSE.