Liquidity Events
True North exits NBFC Fedbank Financial Services; sells 6.86% stake in block deal
Private equity firm True North has fully exited Mumbai-based Fedbank Financial Services by selling its entire 6.86% stake through a block deal on the stock exchange. The stake, comprising 25.7 million shares, was acquired by the Nomura India Equity Fund, which is managed by Nomura Asset Management.Fedbank Financial Services is a retail-focused non-banking financial company (NBFC) promoted by Federal Bank. The firm reported a net profit of Rs.100.5 Cr for the quarter ending in March 2026, marking a 40.3% year-on-year increase. Its assets under management grew by 27.5% year-on-year to reach Rs.20,153 Cr during the same period.Other significant shareholders in the firm include Federal Bank, which held a 61% stake as of March 31, 2026, alongside Nuvama Wealth Management, Bandhan Mutual Fund, and SBI Life Insurance.
Between May 2018 and Jun 2021, Fedbank Financial Services had attracted about USD 52 M from TrueNorth.For FY25, Fedbank Financial Services had reported about INR 2,036 Cr in Operating Income and about INR 225 Cr in PAT.
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