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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.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing. This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
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