NEW DELHI: Two promoters of Home First Finance and affiliate of Warburg Pincus, on Monday divested 19.6 per cent stake in the affordable housing finance company for a combined amount of Rs 1,728 crore 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 per cent stake, in Home First Finance, while True North Fund offloaded 48.09 lakh shares, amounting to a 5.4 per cent stake in the company.
Additionally, Aether Mauritius also disposed of 32.06 lakh shares, or 3.6 per cent 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 1,728.48 crore.
After the stake sale, Warburg Pincus holding through its arm has come down to 12.3 per cent from 22.9 per cent in Home First Finance, while True North’s stake has declined to 8.67 per cent from 14.07 per cent stake and Aether Mauritius’ shareholding in the company also reduced to 5.71 per cent from 9.31 per cent.
HDFC Mutual Fund, Goldman Sachs, Prudential Hong Kong, Norges Bank, Citigroup Global, Capital Group and BofA Securities acquired 1.12 crore shares, or 12.6 per cent stake, in Home First Finance. The shares were picked up in the price range of Rs 989.98-990 apiece, taking the deal value to Rs 1,110.43 crore.
Details of the other buyers of Home First Finance shares could not be ascertained.
Shares of Home First Finance on Monday rose 2.10 per cent 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 per cent stake in Home First Finance for Rs 753 crore.
