Warburg Pincus, 2 promoters offload ₹750 crores in Home First Finance shares

livemint.com:

₹750 crore via open market on Thursday, for the second time in six months, according to bulk deals data. Warburg Pincus, via its subsidiary Orange Clove Investments BV, divested 28,83,819 shares, representing a 3.3% stake in the affordable housing financing company, for approximately ₹251 crore. As of the end of September, an affiliate of Warburg Pincus held a 26.4% stake in the company.

Aether Mauritius, a part of the promoter group, disposed of 23,07,229 shares, representing a 2.6% stake, for about ₹201 crore. At the end of September, Aether Mauritius had a 12% stake in Home First Finance. True North Fund V Llp, another promoter entity, divested 34,60,699 shares, equivalent to a 3.9% stake, for approximately ₹301 crore.

This fund held a 18.16% stake in Home First Finance as of the end of September. The three entities collectively offloaded shares at an average rate of ₹870.4 each, representing a discount of approximately 5% compared to the stock's previous closing price. This discounted sale exerted downward pressure on the stock, causing it to conclude 4% lower on the National Stock Exchange at ₹877.20.

During May, the combined share sales by the mentioned entities amounted to ₹330 crore. True North Fund V and Aether Mauritius collectively divested 2,828,571 shares, amounting to a 3.2% interest in the company, while Warburg Pincus sold off a 2% stake. In a separate transaction report on Thursday, Smallcap World Fund Inc, a venture capital firm based in California, acquired 2.7% ownership in Home First Finance by purchasing 2,395,000 shares for approximately ₹208 crore.