True North's Arm Threpsi Care Pares 2.67% Stake In Zydus Wellness

Private equity firm True North's arm, Threpsi Care LLP, pared its stake in Zydus Wellness Ltd. Quant Mutual Fund bought the shares on Tuesday through open market transactions.

Quant Mutual Fund mopped up 17 lakh shares at Rs 2,201 apiece for an aggregate amount of Rs 374 crore, according to block deal data on the NSE.

Threpsi Care had a 10.12% stake in Zydus as of the quarter-ended June 2024, of which it divested 2.67%. Mutual funds, including ICICI Mutual Fund, SBI Mutual Fund and Nippon India Mutual Fund hold an 8.32% stake in Zydus Wellness.

Zydus Wellness has reported a 20% year-on-year increase in net sales for the first quarter of fiscal 2025, reaching Rs 839.1 crore. The company's net profit surged by 33.8%, amounting to Rs 147.7 crore for the quarter.

The company also cleared its debt entirely during this period, significantly deleveraging its balance sheet while maintaining a robust cash position at the end of the quarter, according to an exchange filing.

Shares of the company closed 0.16% lower at Rs 2,220 apiece, as compared to a 0.26% decline in the benchmark NSE Nifty 50.