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Quant Mutual Fund buys a 1.68% stake in Zydus Wellness from Threpsi Care LLP. Threpsi sold a 2.6% stake, involving 17 lakh shares at an average price of ₹2,201.40 per share. On Tuesday, Zydus Wellness shares closed at ₹2,220 on the NSE, marking a slight 0.16% dip.
On Tuesday, Quant Mutual Fund acquired a significant 1.68% stake in Zydus Wellness, a prominent player in the consumer wellness sector, through an open market transaction. This purchase was made as Threpsi Care LLP, a subsidiary of private equity firm True North, divested a 2.6% stake in the company.
According to block deal data available on the National Stock Exchange (NSE), Threpsi Care LLP sold 17 lakh shares, representing a 2.67% stake in Zydus Wellness. These shares were disposed of at an average price of ₹2,201.40 each, culminating in a total transaction value of ₹374.24 crore. Following this sale, True North's holding in Zydus Wellness decreased from 10.12% to 7.45%.
Despite this significant transaction, Zydus Wellness’s share price saw a minor impact, closing at ₹2,220 on the NSE, down by 0.16% or ₹3.50. Over the past 12 months, the stock has shown remarkable performance, delivering a return of 51.59%, with a gain of approximately ₹755.
The acquisition by Quant Mutual Fund underscores its strategic interest in Zydus Wellness, reflecting confidence in its long-term growth potential. By purchasing the shares at ₹2,201.40 apiece, Quant Mutual Fund has expanded its portfolio in the consumer wellness sector, aligning with its investment strategy to include high-growth companies.
This isn't the first time True North has reduced its stake in Zydus Wellness. In December of the previous year, Threpsi Care LLP divested a 1.23% stake in the company for ₹127 crore, signalling an ongoing trend of stake reduction by the private equity firm.
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