True North Fund Sells Entire Stake in Fedbank Financial Services Limited via Block Deal
Fedbank Financial Services Limited announced a significant change in its shareholding structure, detailing the complete disposal of its stake by True North Fund VI LLP.The company stated that True North Fund VI LLP, a major shareholder, divested its entire holding through a block deal conducted on the Stock Exchange mechanism. Nomura India Equity Fund, managed by Nomura Asset Management (FPI), was the recipient of the stake.
According to the update, True North Fund VI LLP had previously held 2,56,95,139 Equity Shares, representing approximately 6.8644% of the paid-up equity share capital of Fedbank Financial Services Limited.
Following the block deal transaction, True North Fund VI LLP's shareholding in the company now stands at Nil. This marks the complete divestment of the fund's previous equity stake in the financial services company.
FEDFINA Stock Price Movement
As of 2:43 PM, shares of Fedbank Financial Services Limited are slipping by 1.74% in live trading, currently trading at ₹149.69. The stock sees 2.23 million shares traded so far, remaining significantly above the day's low of ₹149.5.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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