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Business Economy


Warburg Pincus increases its equity stake in Home First by 5 pc

Mumbai, Jan 14 (UNI)Home First Finance Company India Ltd, one of India’s leading affordable housing finance companies, on Thursday said that certain existing shareholders of the Company have sold a part of their equity shareholding in the Company to Orange Clove Investments B.V., an affiliate of the private equity funds managed by Warburg Pincus.
As a part of the share subscription and purchase agreement dated October 1, 2020 and pursuant to the approval of the RBI, the Acquirer has purchased 5.03 pc of the paid-up equity share capital of the Company from the Sellers . Pursuant to the Transaction, the Acquirer now owns 30.62 pc of the paid-up equity share capital of the Company.
This Transaction will help Home First diversify its shareholder’s base and boost stakeholder’s confidence in the growth of the Company. Warburg Pincus considers this as a great opportunity to expand its investments in the financial services sector in India and believes that the existing association will help Home First to further strengthen its financial position and growth prospects.
Home First is a technology driven, affordable housing finance company, providing home loans to customers from low- and middle-income groups, who are building or buying their first homes. Over the last 10 years, Home First has sanctioned home loans to more than 50,000 customers in 60 districts, across 11 states and 1 union territory. Coming at a time when the whole world is navigating an unprecedented crisis, we believe this transaction is a huge vote of confidence for the affordable housing segment in general and more specifically for the quality of Home First’s portfolio in the face of the ongoing pandemic.
UNI JS SB 1333
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Panasonic Life Solutions to set up its new manufacturing facility in AP with Rs 600 cr investments

25 Jan 2021 | 8:40 PM

Hyderabad, Jan 25 (UNI) Panasonic Life Solutions India (PLSI), a wholly-owned subsidiary of Panasonic Corporation, on Monday announced the groundbreaking ceremony of its new manufacturing facility in Sri City (Chittoor district), Andhra Pradesh and will commence its operations of manufacturing the electrical appliances by April, 2022.

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MRPL’s Vermicomposting unit inaugurated by Sunil Kumar, Joint Secretary Refineries-MOPNG)

25 Jan 2021 | 7:33 PM

Mangaluru, Jan 25 (UNI) Sunil Kumar, Joint Secretary (Refineries), MOPNG on Monday inaugurated the first unit of the MRPL’s 90 ton per year capacity Vermicomposting project at Mangalore.

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Tata Motors launches Altroz i-Turbo with iRA

Tata Motors launches Altroz i-Turbo with iRA

25 Jan 2021 | 7:26 PM

Kolkata, Jan 25 (UNI) Tata Motors, India’s leading automotive brand, today announced
the launch of the i-Turbo variant along with iRA-connected car technology for its premium
hatchback, Altroz. iRA comes with 27 connected car features along with natural voice
tech, through which the car understands commands not only in English or Hindi, but
also in Hinglish.

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Provide level playing field to Agri-NBFCs in Budget 2021-22: NAFA

25 Jan 2021 | 7:01 PM

Kolkata, Jan 25 (UNI) Agriculture and allied activities employ more than 50 percent of
the workforce and yet remain largely unorganized and fragmented.

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SOSV leads pre-Series A funding round in live video commerce platform KIKO TV

25 Jan 2021 | 6:34 PM

MUMBAI, India, Jan 25, 2021 /PRNewswire/ - KIKO TV, a company that has built a solution for live streaming video commerce for the Indian market, has raised an undisclosed amount in its pre-Series A funding round led by the US venture capital fund SOSV and will be shortly graduating from their Mobile Only Accelerator (MOX) program.

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