True North

True North's arm Threpsi sells 2.6% stake in Zydus Wellness for Rs 374 cr

Private equity firm True North's arm Threpsi Care LLP on Tuesday divested a 2.6 per cent stake in Zydus Wellness for Rs 374 crore through an open market transaction, while Quant Mutual Fund picked up the stake in the consumer wellness company. According to the block deal data available on the National Stock Exchange (NSE), Threpsi Care LLP sold 17 lakh shares, amounting to a 2.67 per cent stake in Ahmedabad-based Zydus Wellness. The shares were disposed of at an average price of Rs 2,201.40 apiece, taking the transaction value to Rs 374.24 crore. After the share sale, Mumbai-based True North's stake in Zydus Wellness has reduced to 7.45 per cent from 10.12 per cent. These shares were acquired by Quant Mutual Fund at the same price. Shares of Zydus Wellness fell 0.16 per cent to close at Rs 2,220 per piece on the NSE. In December last year, True North through its arm Threpsi Care LLP divested a 1.23 per cent stake in Zydus Wellness for Rs 127 crore.

True North's Threpsi Care LLP sells stake in Zydus Wellness worth Rs 127 cr

Private equity firm True North's arm Threpsi Care LLP on Thursday divested a 1.23 per cent stake in Zydus Wellness for Rs 127 crore through an open market transaction. Zydus Family Trust and SBI Mutual Fund were the buyers of Zydus Wellness shares. Threpsi Care LLP sold 7.80 lakh shares, amounting to a 1.23 per cent stake in Zydus Wellness, as per the block deal data available with the National Stock Exchange (NSE). The shares were offloaded at an average price of Rs 1,632 apiece, taking the deal size to Rs 127.30 crore. After the latest transaction, Threpsi Care LLP's shareholding has declined to 10.12 per cent from 11.35 per cent stake (at the end of September quarter) in the company. The scrip of Zydus Wellness gained 0.43 per cent to close at Rs 1,641 per piece on the NSE. In a separate deal on the NSE, ICICI Prudential Mutual Fund and SBI Mutual Fund offloaded more than 56.25 lakh shares of Indiabulls Housing Finance for Rs 123 crore through open market transactions. ICICI

Private equity company True North enters the private credit segment

True North's 'Performing Credit Regular Income Fund' bridges the supply-demand gaps with custom solutions for middle-market companies

PE firm True North forays into private credit, raises Rs 1,000 crore fund

Homegrown private equity fund True North on Monday announced a foray into private credit, joining a slew of other entities which have started dabbling in this space. The firm said it had set up a fund in 2022, and has already raised over Rs 1,000 crore. It intends to close the fund by the end of the year, as per a statement. The business christened "True North Private Credit" will build on the capabilities by the firm over the last two decades. A favourable risk-reward equation and a good regulatory framework make private credit a robust business, the statement said. The business will offer agile capital solutions to well-governed and profitable enterprises and deliver superior, risk-adjusted returns to its investors, it said. The fund, which bridges the supply-demand gaps for middle-market companies, will invest Rs 75 crore by itself into companies and Rs 200 crore along with its co-investment pools, as per the statement. It is targeting an internal rate of returns between 15-18

Private equity firms sell 9.8% stake in Home First Finance Company

The shares were sold in the price range of Rs 870 to Rs 871.Shares of Home First fell 4.3 per cent to close at Rs 875. Among the buyers were Smallcap World Fund and Fidelity Global

True North sells 20% stake in Niva Bupa to Bupa for Rs 2,700 crore

UK-based Bupa, an international healthcare company, was a founding shareholder when the business was first established in India in 2008

True North to sell 20% stake worth $325 million in Niva Bupa Insurance

Niva Bupa, a joint venture between British United Provident Association (Bupa) and India's True North, offers health insurance through more than 20 bank partners

True North acquires minority stake via own fund in Accion Group for $93 mn

Accion Labs is focused on digital transformation in global enterprises and tech firms. It has more than 4,800 employees globally, spread over 20 locations

True North and others invest $93 million in US-based Accion Labs

Home-grown private equity fund True North on Tuesday announced that it has acquired a significant minority stake in digital engineering company Accion Labs for USD 93 million along with co-investors. The stake in the USA's Pittsburg-based Accion has been acquired by the True North-advised Indium VI (Mauritius) Holdings from private equity fund TA Associates and other shareholders, as per an official statement. The Kinesh Doshi-led Accion was founded in 2011, and focuses on digital transformation projects for global enterprises and technology firms. It has 4,800 employees globally spread across 20 locations, who do digital consulting, innovation and digital product engineering, data/machine learning engineering and automation work. The True North statement said it aims to invest up to 30 per cent of funds that it manages or advises in tech and digital businesses, making digital engineering and software as a service companies as important focus areas for the firm. Its partner Prasad

Temasek to invest Rs 540 cr in True North-backed healthcare firm Integrace

Integrace is an orthopaedic and gynaecology-focused formulation player ranking among the top five in its area. It manages 20 brands and recently acquired two brands in Women's Health from Zydus Cadila

Zydus to sell two brands to PE firm True North's portfolio company

Both drugs, Mifegest Cytolog are used for medical termination of pregnancy

True North sells RDC Concrete to construction firm for unknown sum

RDC is the largest independent ready mixed concrete company in the country. True North held a majority equity stake in the company through its initial investment in 2005

Will invest in firms focused on make in India: True North's Ashish Bhargava

Bhargava says the firm had very few challenges in understanding businesses and investing during pandemic as young founders are comfortable having online discussion

Former KKR credit head Kapil Singhal joins True North's debt business

Singhal joined KKR in October 2019. He used to look after the Edelweiss Special Opportunities Fund before joining KKR India Financial Services

True North scouts for acquisitions in orthopaedics and gynaecology space

Now, True North is focussed on growing Integrace by buying other products, divisions or smaller companies. Integrace is clocking a 12-15 per cent growth

True North to pick 2.44% stake for Rs 536.25 crore in Biocon Biologics

Deal values Biocon Biologics at $ 3 billion

True North to invest Rs 536.25 crore in Biocon Biologics for 2.44% stake

This values Biocon Biologics at Rs 21,450 crore or around $3 billion, on a pre-money equity basis

True North plays to its strengths, to stay away from infra and realty

True North specialises in consumer, financial, health care, and now technology sectors, and is a few months away from closing a $1.4-billion round for Fund VI

True North to acquire 51% stake in Max Bupa Health Insurance for Rs 511 cr

The all-cash transaction values Max Bupa at Rs 1,001 crore. Bupa, existing joint venture partner in Max Bupa, stays invested

True North to buy Votorantim Cimentos' 75% stake in Shree Digvijay Cement

Deal value not disclosed; buyer has been investing in Indian construction and building material sector for more than a decade