On June 2, 2025, Niva Bupa Health Insurance shares tumbled as much as 11.1% to close at ₹82 on the BSE following a large block deal in which a private equity investor sold a 12% equity stake—equivalent to 56.3 lakh shares—according to ET NOW The Economic Times The Economic Times.
The block transaction, executed on June 2, involved True North’s investment arm, Fettle Tone LLP, and Niva Bupa’s MD & CEO, Krishnan Ramachandran, who together offloaded 132 million shares, or 7.2% of the company’s issued equity. Fettle Tone sold 122 million shares (roughly 6.7%), while Ramachandran divested 10 million shares (about 0.5%) The Economic Times ET Now.
Shares in the block deal were priced at ₹82 apiece—a discount of 11.1% to Niva Bupa’s closing price of ₹92.298 on May 30, 2025—placing the total value of the transaction at approximately ₹1,082 crore ET Now.
Following the block sale, Niva Bupa’s stock saw heavy selling pressure, reflecting the sizable offloading by Fettle Tone and Ramachandran. As of June 2, 2025, British insurer Bupa held a 55.98% promoter stake in Niva Bupa, while True North (through Fettle Tone) retained a 17.47% stake ET Now The Economic Times.
