Shares of Home First Finance Company India Ltd. fell as much as 6% on Monday, December 2, after a large deal that took place in the stock.Nearly 9.83% of the total equity changed hands in the large transaction as per the data available.
Buyers and sellers of the transaction are not yet officially known.
Kotak and Nomura are acting as the brokers for this transaction.
Sources told CNBC-TV18 that the promoters of Home First Finance Company initiated a block deal to offload up to a 14.7% stake in the company, valued at approximately ₹1,267 crore.
The primary sellers involved in this transaction are True North Fund V LLP (Warburg Pincus), Orange Clove Investments BV and Aether (Mauritius) Ltd.
At the end of the second quarter, True North held a 14.07% stake in Home First Finance, Aether Mauritius held a 9.31% stake, and Orange Clove held a 22.91% stake in the company.
Based on the September quarter shareholding pattern, promoters held a 23.38% stake in Home First Finance.
India’s Mutual Funds increased their stake in Home First Finance from 9.65% at the end of June, to 10.68% in September.
Shares of Home First Finance Company India Ltd. are currently trading 5.70% lower at ₹992.20. The stock has risen 6% so far this year.
Content retrieved from: https://www.cnbctv18.com/market/home-first-finance-block-deal-share-price-buyer-seller-promoter-stake-true-north-aether-mauritius-orange-clove-19517675.htm.
