True North Fund VI is planning to sell its entire 8.6% stake in Fedbank Financial Services Ltd through a block deal, according to sources. Investment bankers have been appointed for the transaction, and the deal is likely to take place soon.True North was a pre-IPO investor in Fedbank Financial Services and had partially sold its holding during the company’s initial public offering in November 2023.
The fund is now preparing to offload its remaining stake.
CNBC-TV18 has written to True North and Fedbank Financial Services for comments and is awaiting responses.
Fedbank Financial Services, backed by Federal Bank, operates as a non-banking financial company focusing on loans to MSMEs, emerging self-employed individuals, and retail customers.
