Warburg Pincus eyeing exit from Home First Finance; launches block deal

 ICICI Securities is the sole book runner on the proposed transaction,  the deal termsheet said. 

Private equity firm Warburg Pincus is eyeing a full exit from portfolio firm Home First Finance and has launched a block deal to sell stake worth $143 mn at the lower end of the price range , multiple industry sources in the know told Moneycontrol on the condition of anonymity.

" Orange Clove Investments BV, a Warburg Pincus entity plans to dilute around 10.3 per cent stake. The plan is for a clean out trade," said one of the persons above.

The indicative price range is Rs 1143/share - Rs 1202/share , which represents a 0-4.9 per cent discount to the last traded price on August 8, as per a deal term sheet reviewed by Moneycontrol.

ICICI Securities is the sole book runner on the proposed transaction, the deal termsheet said.

As per exchange data, Orange Clove Investments BV holds 10.64 per cent in the firm. Private equity firm True North and Aether Mauritius Ltd fall in the promoter category of Home First Finance.

Warburg Pincus, Home First Finance and ICICI Securities were immediately unavailable for comment.