True North Sells Entire Stake in Fedbank Financial Services for ₹385.4 Crore
True North exits Fedbank Fin in a Rs 385.4-cr block deal
The Economic Times
Image: The Economic Times
True North Fund VI LLP has divested its entire stake in Fedbank Financial Services through a block deal worth ₹385.4 crore (approximately $46.3 million USD). The sale involved about 2.57 crore shares, representing 6.86% of the company's total equity, with Nomura India Equity Fund as the buyer.
- 01True North Fund VI LLP sold its entire stake in Fedbank Financial Services.
- 02The block deal was valued at ₹385.4 crore (approximately $46.3 million USD).
- 03The sale involved about 2.57 crore shares, or 6.86% of the total equity.
- 04Nomura India Equity Fund acquired the shares.
- 05Fedbank shares closed 1.9% lower at ₹149.51 following the deal.
Advertisement
In-Article Ad
True North Fund VI LLP has exited its investment in Fedbank Financial Services by selling its entire stake in a block deal valued at ₹385.4 crore (roughly $46.3 million USD). The transaction involved approximately 2.57 crore shares, accounting for 6.86% of the total equity of Fedbank. Nomura India Equity Fund acted as the buyer in this deal. Following the announcement, Fedbank's shares experienced a decline, closing down 1.9% at ₹149.51 on the stock market. This exit marks a significant move for True North, reflecting its strategy in the financial services sector.
Advertisement
In-Article Ad
The sale may influence investor sentiment towards Fedbank Financial Services, potentially affecting stock prices and market perception.
Advertisement
In-Article Ad
Reader Poll
Do you think True North's exit will affect Fedbank's stock performance?
Connecting to poll...
Read the original article
Visit the source for the complete story.