Private Equity Firm True North Sells Stake in Zydus Wellness

Zydus Wellness

Through its arm, Threpsi Care LLP, private equity firm True North divested a 1.23% stake in Zydus Wellness for a significant Rs 127 crore in an open market transaction on December 28.

Zydus Family Trust and SBI Mutual Fund were the buyers of the Zydus Wellness shares, with Threpsi Care LLP selling 7.80 lakh shares at an average price of Rs 1,632 each. This transaction reduced Threpsi Care LLP’s shareholding to 10.12% from the previous 11.35% stake held at the end of the September quarter.

Simultaneously, in a separate deal on the National Stock Exchange (NSE), ICICI Prudential Mutual Funds and SBI Mutual Funds offloaded more than 56.25 lakh shares of Indiabulls Housing Finance, amounting to Rs 123 crore through open market transactions. ICICI Prudential Mutual Funds sold 25.34 lakh shares, while SBI Mutual Funds disposed of approximately 30.90 lakh shares at Rs 218.16 and Rs 218.74 apiece.

However, amidst these sell-offs, Mathew Cyriac acquired 25 lakh shares of Indiabulls Housing Finance at an average price of Rs 213.53, totaling Rs 53.38 crore, as per available data. The identities of the other buyers in this transaction remain undisclosed.

The shares of Zydus Wellness closed marginally higher, gaining 0.43% to settle at Rs 1,641 each on the NSE post the stake sale. On the other hand, Indiabulls Housing Finance shares rose by 1.07% to Rs 217.50 apiece on the same day.

These divestments and acquisitions within the pharmaceutical and housing finance sectors reflect significant market movements. Actual North’s stake sale in Zydus Wellness, alongside mutual funds offloading shares in Indiabulls Housing Finance, suggests a reshuffling of portfolios and strategic decisions within these industries.

The transactions indicate a dynamic market scenario with firms adjusting their positions in response to market conditions and individual investment strategies. Such movements often indicate investor sentiment and trends, influencing the stock market landscape.

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