Three entities sell Home First Finance shares for Rs 753 crore

India fell 3.99 per cent to close at Rs 877.65 apiece on the BSE on Thursday.

Home First Finance Company’s two promoters as well as Warburg Pincus affiliate on Thursday sold shares of the affordable housing finance firm for Rs 753 crore through open market transactions. The company’s promoters — True North Fund V LLP and Aether Mauritius Ltd — and Orange Clove Investments BV, a Warburg Pincus affiliate, offloaded shares in two tranches each on the BSE.

According to the bulk deal data available with the BSE, True North Fund V LLP disposed of 34,60,699 shares and Aether Mauritius sold 23,07,229 shares, amounting to a 3.9 per cent and 2.6 per cent stake in the Mumbai-based company. Orange Clove Investments BV also offloaded 28,83,819 shares, or 3.27 per cent stake, in the housing finance company, as per the data. The shares were sold in the range of Rs 870-871.13 apiece, taking the combined deal size to Rs 753.12 crore. After the latest transaction, the combined shareholding of the promoters has declined to 23.69 per cent from 30.19 per cent, while Orange Clove Investments BV’s equity dipped to 23.16 per cent from 26.43 per cent stake in the company.

Meanwhile, SmallCap World Fund Inc and Fidelity Global Investment Fund Asia Pacific Equity Fund acquired a total of 28.71 lakh shares of the affordable housing finance firm. Shares of Home First Finance Company India fell 3.99 per cent to close at Rs 877.65 apiece on the BSE on Thursday. In May, two promoter companies — True North Fund V LLP and Aether Mauritius — and Orange Clove Investments BV offloaded the shares of Home First Finance Company India for Rs 330 crore, through open market transactions.