Home First Finance, an affordable housing finance company, saw shares worth Rs 330 crore sold by True North Fund V LLP, Aether Mauritius Ltd., and Orange Clove Investments BV. The transaction resulted in a decrease in the promoters stake and Orange Clove's equity in the company. Norges Bank and Society Generate acquired shares from Home First Finance. The company focuses on providing mortgages to low- and middle-income individuals in various regions of India.
Earlier this month, through open market transactions, affordable housing finance company Home First Finance saw
shares worth Rs 330 crore sold by True North Fund V LLP, Aether Mauritius Ltd., and Orange Clove Investments BV,
an affiliate of Warburg Pincus. The total amount generated from these sales was Rs 330 crore.
As per the information on bulk deals sourced from the NSE, True North Fund V and Aether Mauritius have
collectively disposed of 28,28,571 shares, representing a 3.2 percent equity holding in the company. True North and
Aether are the entities responsible for promoting the Mumbai-based company. Furthermore, Orange Clove
Investments disposed of over 18.85 lakh shares on the stock exchange market, which represents a 2.1 percent stake in
the housing finance firm.
The total value of the transaction amounted to Rs 330.16 crore, as the shares were sold at a price range of Rs 700 to Rs
700.97 each. During the most recent transaction, the promoter’s stake decreased to 30.26 percent from the previously
held 33.46 percent during the March quarter. Similarly, Orange Clove's equity in the company declined from 28.62
percent to 26.52 percent.
In the meantime, Norges Bank and Societe Generale procured a combined sum of 28.10 lakh shares from the
company. The stock price of Home First Finance dropped by 4.05 percent on Monday and closed at Rs. 696 per share
on the NSE.
Home First Finance Company India Limited has been publicly listed since its incorporation on February 3, 2010. The
company is a public limited company situated in the city of Mumbai, Maharashtra. The company has an authorized
capital of Rs 25 crore and its paid-up capital amounts to Rs 17.58 crore. Home First is an inexpensive housing finance
firm that incorporates advanced technology and offers mortgages to low- and middle-income individuals who are
constructing or purchasing their initial homes. It has established a notable foothold in the developed areas of Gujarat,
Maharashtra, Karnataka, and Tamil Nadu.
The National Stock Exchange (NSE), a financial exchange in India, offers automated trading facilities nationwide.
The NSE trading system mainly relies on market orders, and the anonymity of participants is maintained as they
conduct their buying and selling activities. This enables foreign companies to raise capital in India through various
means such as debentures, IPOs, IDRs, and new listings. The NSE provides trading, clearing, and settlement facilities
in various segments, such as equity, equity derivatives, debt, and currency derivatives.
True North Fund V (TNFVL) is a Limited Liability Partnership (LLP) firm incorporated on 20 Dec 2016. Its
registered office is in Bangalore, Karnataka, India. The LLP status is active, and it has filed its Accounts and Solvency
Statement up to 31 Mar 2022 (FY 2021-2022). According to the MCA, the complete responsibility of contribution
amounts to Rs 4,432.40 crore.
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