PE firm True North offloads 7% stake in Aster DM Healthcare

Private equity firm True North, through its Fund III, sold more than 3.73 crore equity shares worth over Rs 448 crore of Aster DM Healthcare via an open market transaction on June 26, as per bulk deals data available on NSE.

The shares representing 7.39 percent of the total paid-up equity capital of the company were sold at an average price of Rs 120.03 apiece.

True North held 8.23 percent or over 4.16 crore shares of the healthcare provider as per shareholding pattern of March 2019 available on exchanges.

There were five buyers for shares of this company including Ontario Pension Board which bought 2,765,446 shares, HDFC Mutual Fund 83 lakh shares and Fidelity Management Trust Company 4,828,878 shares.

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Steinberg India Emerging Opportunities Fund also purchased 25.55 lakh shares and Tata AIA Life Insurance Company bought 50 lakh shares of Aster DM.

All five buyers acquired stakes at a price of Rs 120 per share.

Aster DM shares fell nearly 7 percent to close at Rs 124.75 on the BSE.


Among other bulk deals, Ocean Dial Gateway to India Mauritius sold 2,44,168 shares of Dhanuka Agritech at Rs 400 per share and Vistra ITCL (India) offloaded 8 lakh shares of Mcleod Russel at Rs 15.4 per share on the NSE.

Vinco Metals sold 7.48 lakh shares of BC Power Controls at Rs 40.23 apiece on the BSE.

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