The Warburg Pincus-backed non- banking finance firm, Capital First, today said its promoter Cloverdell Investment plans to sell more than one-third of its holding in the company.
"Cloverdell Investment Ltd, an affiliate of Warburg Pincus group and promoter, has informed us that they propose to sale up to 20 million equity shares held by them in the company," Capital First said in a BSE filing.
Later in another filing, the company said: "Cloverdell Investment.. Has informed us that they propose to sale additional 4.3 million equity shares (approximately 5 per cent of total share capital) held by them in the company."
Cloverdell Investment currently holds 61 per cent stake in the company.
The transaction details will be submitted once the same received from the said promoter, it added.
Capital First provides debt financing to MSMEs and consumer as well as small-ticket loans in unbanked and under- penetrated segments.
The stock closed 5.12 per cent down at Rs 723.95 on the BSE.
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