PE firm Fettle Tone considers partial stake sale in Niva Bupa: Sources

Fettle Tonne, which currently holds a 7.9% stake in Niva Bupa, is considering selling up to 5% of its holding through a block deal, sources said.
PE firm Fettle Tone considers partial stake sale in Niva Bupa: Sources
PE firm Fettle Tone considers partial stake sale in Niva Bupa: Sources
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Published Oct 01, 2025   |   7:52 AM GMT-04
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Private equity investor Fettle Tone, the investment arm of True North, is exploring a partial sale of its stake in Niva Bupa Health Insurance, sources familiar with the matter told CNBC-TV18.


Fettle Tonne, which currently holds a 7.9% stake in Niva Bupa, is considering selling up to 5% of its holding through a block deal, sources said. The firm is believed to have approached investment bankers to facilitate the transaction.

This potential stake sale comes just a few months after K Ramachandran, Managing Director and CEO of Niva Bupa and Fettle Tonne, sold 10% of his personal stake in June 2025, according to market disclosures.

When contacted for comments, Niva Bupa Health Insurance told CNBC-TV18, "We don’t comment on market speculation or shareholder’s decisions."
A formal response from Fettle Tone is still awaited at the time of publishing this story.


Also Read: Niva Bupa Health Insurance: No hike in premium for now

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