Warburg Pincus, via its subsidiary Orange Clove Investments BV, divested 28,83,819 shares, representing a 3.3% stake in the affordable housing financing company, for approximately ₹251 crore.

As of the end of September, an affiliate of Warburg Pincus held a 26.4% stake in the company.

Aether Mauritius, a part of the promoter group, disposed of 23,07,229 shares, representing a 2.6% stake, for about ₹201 crore. At the end of September, Aether Mauritius had a 12% stake in Home First Finance.

True North Fund V Llp, another promoter entity, divested 34,60,699 shares, equivalent to a 3.9% stake, for approximately ₹301 crore. This fund held a 18.16% stake in Home First Finance as of the end of September.

The three entities collectively offloaded shares at an average rate of ₹870.4 each, representing a discount of approximately 5% compared to the stock’s previous closing price. This discounted sale exerted downward pressure on the stock, causing it to conclude 4% lower on the National Stock Exchange at ₹877.20.

During May, the combined share sales by the mentioned entities amounted to ₹330 crore.

True North Fund V and Aether Mauritius collectively divested 2,828,571 shares, amounting to a 3.2% interest in the company, while Warburg Pincus sold off a 2% stake.

In a separate transaction report on Thursday, Smallcap World Fund Inc, a venture capital firm based in California, acquired 2.7% ownership in Home First Finance by purchasing 2,395,000 shares for approximately ₹208 crore.

Fidelity Investments also participated as a buyer, obtaining 476,331 shares at ₹870 per share, totaling ₹41.4 crore.

Home First Finance has emerged as one of the top-performing stocks in the non-banking financial company (NBFC) sector, delivering returns of nearly 20% in the year 2023 thus far.

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Updated: 23 Nov 2023, 08:58 PM IST