PE firm True North sells 7.39 per cent stake to Aster DM Healthcare

True North, the Private Equity firm has sold its 7.39 per cent to Aster DM Healthcare company via open market transaction, which is holding the value of around Rs. 448 crore.

Aster DM Healthcare is one of the fastest growing companies in the region of MENA. Image source: @ASTERHealthcare

True North, the Private Equity firm has sold its 7.39 per cent to Aster DM Healthcare company via open market transaction, which is holding the value of around Rs. 448 crore.

Aster DM Healthcare is one of the fastest growing companies in the region of MENA. It was founded in 1987, which covers full spectrum of Healthcare services in India. It runs hospitals in India and the Middle East.

According to a bulk deal data on NSE, a total of 3.73 crore shares, amounting to 7.39 per cent stake, were offloaded by True North Fund III A at a price of Rs 120.03 per scrip Wednesday, translating into a Rs 448.47-crore transaction.

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True North Fund III A held 8.23 per cent stake in Aster DM healthcare at the end of March Quarter according to the Shareholding pattern available on Bombay Stock Exchange (BSE).

In separate transactions, HDFC Mutual Fund bought 83 lakh shares of Aster DM healthcare for Rs 99.6 crore while Tata AIA Insurance purchased 50 lakh shares worth Rs 60 crore. Also, Fidelity Management bought 48.28 lakh shares for Rs 57.94 crore and Ontario Pension Board bought 27.6 lakh shares for Rs 33.18 crore. These four companies bought the shares at Rs 120 a piece.

Aster DM Healthcare shares was trading at Rs 128.50, up 3.01 per cent at 10:24 am Today.

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