Major Stake Shifts in Home First Finance: Warburg Pincus Exits, New Investors Step In
Major financial entities, including Kotak Mahindra MF and Citigroup, have acquired a significant stake in Home First Finance Company India. Warburg Pincus, a private equity firm, has completely exited by selling its stake through Orange Clove Investments. The shares were transacted at Rs 1,190.50 each, totaling Rs 1,307 crore in value.
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A consortium of investors, featuring Kotak Mahindra Mutual Fund, Fidelity, Morgan Stanley, and Citigroup Global Markets Mauritius, acquired a collective 10.64% stake in Home First Finance for Rs 1,307 crore via open market transactions on Monday.
NSE block deal data reveals Kotak Mahindra Mutual Fund purchased 50 lakh shares, securing a 4.84% stake. Other significant investors included HSBC MF, Motilal Oswal MF, and Norway's Government Pension Fund Global, who collectively purchased over 1.09 crore shares of the Mumbai-based firm.
Private equity leader Warburg Pincus exited Home First Finance by divesting its entire 10.64% holding through Orange Clove Investments BV. Following these transactions, Home First's shares surged 6.44%, closing at Rs 1,279.70 on the NSE.
(With inputs from agencies.)
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