Promoters, Warburg Pincus' Arm Sell 19.6% Stake in Home First Finance

04 Dec 2024 CW Team

Two promoters of Home First Finance and affiliate of Warburg Pincus, divested 19.6 % stake in the affordable housing finance company for a combined amount of Rs 17.28 billion through open market transactions.

The company's promoters -- Aether Mauritius Ltd and True North Fund V LLP -- have sold the shares of the Mumbai-headquartered Home First Finance. Orange Clove Investments BV, an arm of US-based private equity major Warburg Pincus, also sold shares in two separate transactions on the BSE.

As per the bulk deal data available on the exchange, Orange Clove Investments sold 94.42 shares, or 10.6 % stake, in Home First Finance, while True North Fund offloaded 48.09 lakh shares, amounting to a 5.4 % stake in the company. Additionally, Aether Mauritius also disposed of 32.06 lakh shares, or 3.6 % holding, in the housing finance company. The shares were sold in the price range of Rs 990-990.05 apiece, taking the combined deal value to Rs 17.28 billion.

After the stake sale, Warburg Pincus holding through its arm has come down to 12.3 % from 22.9 % in Home First Finance, while True North's stake has declined to 8.67 % from 14.07 % stake and Aether Mauritius' shareholding in the company also reduced to 5.71 % from 9.31%. Details of the other buyers of Home First Finance shares could not be ascertained. Shares of Home First Finance on Monday rose 2.10 % to close at Rs 1,074.55 apiece on the BSE.

In November last year, True North Fund V, Aether Mauritius, Orange Clove Investments sold 9.8 % stake in Home First Finance for Rs 7.53 billion.

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