True North sells 7.39 pc stake in Aster DM Healthcare for Rs 448 cr

Private equity firm True North has sold 7.39 per cent stake in Aster DM Healthcare worth over Rs 448 crore through open market transactions.

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, according to bulk deal data available on NSE.

According to the shareholding pattern available on BSE, at the end of March quarter, True North III A, held 8.23 per cent stake in Aster DM Healthcare, which runs hospitals in India and the Middle East.

In separate transactions, HDFC Mutual Fund bought 83 lakh shares of Aster DM for Rs 99.6 crore, Tata AIA Insurance purchased 50 lakh shares worth Rs 60 crore, while Fidelity Management and Ontario Pension Board bought 48.28 lakh shares and 27.6 lakh scrips, respectively for Rs 57.94 crore and Rs 33.18 crore.

The four entities bought the shares at Rs 120 apiece.

Shares of Aster DM Healthcare was trading at Rs 128.50, up 3.01 per cent at 1024 am.