Niva Bupa slumps 10% as True North cuts stake

Domestic PE firm True North’s Fettle Tone LLP offloaded 9.46 per cent stake in Niva Bupa Insurance while its MD and CEO Krishnan Ramachandran sold 1 crore shares or 0.5 per cent stake in the company in secondary market transactions.

According to block deal data on the BSE, Fettle Tone sold 8.14 crore shares at an average price of ₹82.76 and 9.15 crore shares at ₹82.11 while Ramachandran offloaded at ₹82.30 a share.

DSP Mutual Fund and SBI Mutual Fund were the buyers. SBI Mutual bought about 1.52 crore shares while DSP Mutual, through four transactions, bought about 4.97 crore shares. Other buyers’ names are not immediately ascertained.

Shares of Niva Bupa slumped 10 per cent to ₹83.07 as the transactions were done at a discount to Friday’s closing price of ₹92.28.

Published on June 2, 2025