 "IDFC FIRST Bank")
Dayside Investment, an affiliate of global private equity major Warburg Pincus, sold its entire 1.3 per cent stake in IDFCFirst Bank on Thursday. It offloaded nearly 91.8 million shares at Rs 86.1 apeice to raise Rs 790 crore, data provided by stock exchanges showed. Shares of IDFCFirst Bank fell 3 per cent on Thursday to end at Rs 87.7 on the BSE.
In September, Cloverdell Investment, also an affiliate of Warburg, had sold 4.2 per cent in IDFC First Bank for Rs 2,480 crore. Among the buyers was US-based GQGPartners, which had picked up shares worth Rs 1,527 crore, constituting a 2.6 percent stake. Meanwhile, 18 million shares, representing 0.8 per cent equity, worth Rs 1,856 crore of Bharti Airtel got traded via large blocks on Thursday.
Reports suggested the seller was Warburg. However, the information didn’t reflect in the block deal data disclosed by exchanges. Shares of Airtel fell 2.5 per cent to close at Rs 999. A total of Rs 3,081 crore worth of shares were traded on Thursday.
