Private Equity

Liquidity Events

Warburg in talks to exit from Home First Finance: report

BusinessLine  

Warburg has initiated conversations with banks and NBFCs to exit its stake in Home First Finance, publicly listed affordable housing lender with a loan book of INR 5,832 crore (as on June 30). Warburg has reached out to IndusInd Bank, Shriram Housing, Vaastu Housing Finance, RBL Bank and YES Bank for a possible transaction. Shares of Home First Finance were listed in bourses in February 2021 and Warburg — which was roped in as a pre-IPO investor — holds 28.73% stake in the company. Based on the latest closing price, Warburg's stake in the company is valued at INR 2,170 crore. True North (earlier known as India Value Fund Advisors) and GIC are the promoters of Home First and hold 20.19% and 13.39% stake, respectively. They have been invested in the company since 2017, while Bessemer Capital, a series A investor in Home First, holds a 7.77% stake.