True North Exits Zydus Wellness as PPFAS Mutual Fund Steps In

True North has sold its 7.27% stake in Zydus Wellness to PPFAS Mutual Fund for Rs 879 crore. This transaction took place on the NSE with shares priced at Rs 1,900 each. Meanwhile, TVS Motor Company increased its stake in TVS Supply Chain Solutions to 5.26% after buying more shares.

Mumbai-based private equity firm True North has exited its investment in Zydus Wellness by divesting a 7.27% stake, purchased by PPFAS Mutual Fund for Rs 879 crore in an open market deal on the NSE.

The transaction saw True North, through Threpsi Care LLP, offloading 46.27 lakh shares at Rs 1,900 each. Zydus Wellness shares gained 1.16% to close at Rs 1,935.60 apiece, reflecting market confidence after the deal.

Simultaneously, TVS Motor Company acquired a 0.89% stake in TVS Supply Chain Solutions, raising its ownership to 5.26%. The shares, bought for Rs 57 crore, were priced at Rs 144 each, although the stock closed at a lower Rs 140.50 on NSE.

(With inputs from agencies.)