Big Change in Home First Finance: Owners and Warburg Pincus Sell Shares Worth Rs 753 Crore

Big Change in Home First Finance: Owners and Warburg Pincus Sell Shares Worth Rs 753 Crore

Home First Finance’s promoters and Warburg Pincus affiliate sell shares worth Rs 753 crore, reshaping the housing finance landscape.

Home First Finance Company witnessed a shift in its shareholding as True North Fund V LLP and Aether Mauritius Ltd, the company’s promoters, along with Orange Clove Investments BV, an affiliate of Warburg Pincus, collectively sold shares worth Rs 753 crore through open market transactions on Thursday.

The intricate share disposition included True North Fund V LLP shedding 3.9% (34,60,699 shares) and Aether Mauritius parting with 2.6% (23,07,229 shares) of their stake. Simultaneously, Orange Clove Investments BV divested 3.27% (28,83,819 shares) in two tranches each on the BSE. These transactions occurred at a share price range of Rs 870-871.13, in a total deal size of Rs 753.12 crore. Following this move, the combined shareholding of the promoters dwindled from 30.19% to 23.69%, while Orange Clove Investments BV’s equity reduced from 26.43% to 23.16%.

Amidst this development, SmallCap World Fund Inc and Fidelity Global Investment Fund Asia Pacific Equity Fund entered the scene by acquiring a total of 28.71 lakh shares in Home First Finance Company.

However, this financial evolution did not go unnoticed in the market, as Home First Finance Company India’s shares experienced a 3.99% decline, settling at Rs 877.65 apiece on the BSE.