True North's Strategic Stake Divestment in Anthem Biosciences

Mumbai-based private equity firm True North sold a 3.6% stake in Bengaluru's Anthem Biosciences for Rs 1,261 crore via an open market transaction. The divestment was conducted through True North's affiliate, Viridity Tone LLP. HDFC Mutual Fund and SBI Mutual Fund collectively acquired a 1.65% stake.

Mumbai-based private equity firm True North divested a 3.6% stake in Anthem Biosciences, valued at Rs 1,261 crore, through an open market transaction as of Monday.

The stake was sold by True North's affiliate, Viridity Tone LLP, translating to the offloading of 2,03,13,795 shares. Data from the BSE stated the shares were sold at an average price of Rs 621.11 each.

Meanwhile, HDFC Mutual Fund and SBI Mutual Fund acquired a combined 1.65% stake in Anthem Biosciences at an average rate of Rs 621.10 per share, with the transaction valued at Rs 577.68 crore. Anthem Biosciences' shares closed marginally lower at Rs 660 each on the BSE.

(With inputs from agencies.)