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Three private equity (PE) firms on Thursday offloaded 9.8 per cent stake worth Rs 753 crore in Home First Finance Company India. True North Fund sold 3.9 per cent stake, Aether Mauritius sold 2.6 per cent, and Warburg Pincus-affiliate Orange Clove Investments offloaded another 3.3 per cent.
The shares were sold in the price range of Rs 870 to Rs 871.Shares of Home First fell 4.3 per cent to close at Rs 875. Among the buyers were Smallcap World Fund and Fidelity Global. Earlier in May as well the three PE firms had sold shares worth Rs 330 crore. In the past one week, the stock of this housing finance company has slipped 7 per cent as against 0.8 percent rise in the benchmark Sensex. In the last six months, the shares of the affordable housing finance company have given a return of around 31 per cent.
