True North Fund VI LLP has completed a significant exit from Fedbank Financial Services through a ₹385.4 crore block deal executed on Tuesday. According to an exchange filing, the fund offloaded its entire stake in the financial services company through the substantial transaction. The sale involved 2.57 crore shares, representing 6.86% of the company's total equity.
The block deal was executed with Nomura India Equity Fund serving as the buyer of the shares. As reported by The Economic Times, this transaction represents a complete exit by True North Fund VI LLP from its position in Fedbank Financial Services. The deal structure involved the sale of approximately 2.57 crore shares at a total value of ₹385.4 crore.
The market reacted negatively to the news of the stake sale, with Fedbank Financial Services shares closing 1.9% lower at ₹149.51 on Tuesday. According to The Economic Times, this decline in share price occurred following the announcement of the block deal transaction. The market movement reflects investor reaction to the significant stake change in the financial services company.
