PE Firm True North Sells 3.6% Stake In Anthem Biosciences For Rs 1,261 Crore

Private equity firm True North has divested a 3.6% stake in Anthem Biosciences, generating approximately Rs 1,261 crore from the sale. This move reflects True North's strategic decision to monetize its investment in the rapidly growing biotech sector. The stake was acquired by HDFC Mutual Fund and SBI Mutual Fund, who purchased a total of 93,01,020 shares at an average price of Rs 621.10 each. The transaction underscores the increasing interest of institutional investors in biotech firms, particularly in India, which has been witnessing a surge in the life sciences and biopharmaceutical industries. Anthem Biosciences, known for its innovative solutions in drug discovery and development, is well-positioned to capitalize on the growing demand for biotech services. This divestment by True North highlights the dynamic nature of the investment landscape in India, as private equity firms continue to seek opportunities to optimize their portfolios amidst changing market conditions.