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Business EconomyPosted at: Jan 14 2021 1:33PM


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.
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