IDFC First Bank shares slump 3.5% as Warburg Pincus affiliate exits in Rs 1,386-crore block deal

As per CNBC-TV18, Morgan Stanley likely brokered the deal.

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26 Aug, 2025 12:21

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Shares of IDFC First Bank slumped 3.5 percent in opening trade on March 28 after a block deal valued at Rs 1,386 crore took place on the exchanges. Around 18.3 crore shares, representing a 2.6 percent stake, in IDFC First Bank changed hands in the transaction.

At 09.19 am, shares of the private lender were trading at Rs 75.60 on the NSE.

Although Moneycontrol could not immediately ascertain the parties involved in the transaction, CNBC-TV18 reported on March 27 that Warburg Pincus affiliate Cloverdell Investment was planning to exit the lender.

Cloverdell Investment was looking to unload its entire 2.25 percent stake, or 15.9 crore shares, of the lender to bag at least Rs 1,191.40 crore, the CNBC-TV18 report cited sources as saying. Morgan Stanley likely brokered the deal, it added.

This isn't the first time that Warburg Pincus has diluted its stake in IDFC First Bank. Back in December, Warburg Pincus through Cloverdell Investment divested a 1.3 percent stake in the private lender through an open market transaction worth Rs 790 crore.

The Warburg Pincus affiliate offloaded a 4.2 percent stake in IDFC First Bank in September for a total of Rs 2,480.34 crore.

At the end of the first quarter of FY24, Cloverdell Investment held a 7.12 percent stake in the private lender.