US-based private equity major Warburg Pincus will invest close to Rs 800 crore (about $110 million) to acquire about 30% stake in Mumbai-based affordable housing finance company Home First Finance Company (HFFC), two people aware of the development told The Economic Times.
Existing institutional investors including True North Capital and Bessemer Ventures may sell part of their stakes as part of the deal.
True North Capital and Singapore’s GIC own around 74% of HFFC while 16% stake is held by Bessemer Ventures, and the rest is with the management.
HFFC had filed for an initial public offering (IPO) last year and is expected to raise Rs 1,500 crore (Rs 400 crore in primary issuance and the remaining Rs 1,100 crore through secondary issuance).
The IPO was approved by the Securities and Exchange Board of India (SEBI) in March 2020.