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GQG Partners acquires 2.58% stake in IDFC First Bank, while Warburg Pincus sells 4.2% stake
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asset management firm, has bought 2.58% stake in IDFC First Bank via bulk deals on Friday, according to data available on the bourses. As per BSE data, US-based company acquired 171,602,498 shares of the private banking company for ₹89 apiece, which aggregates to ₹1,527 crore.
On the other side, Cloverdell Investment Ltd offloaded 278,690,000 equity shares or 4.2% at an average price of ₹89 per share. As on June 30, Cloverdell Investment Ltd held 7.12% in IDFC First Bank Ltd.
Cloverdell Investment is owned by a private equity major Warburg Pincus. IDFC First Bank is mainly owned by public shareholders, who hold a 60.07% stake, while promoters hold the remaining 39.93%, according to the BSE's shareholding patterns of the private bank.
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