Home First Finance promoters to launch ₹1,267 crore block deal on Monday: sources

Home First Finance Company’s promoters have initiated a block deal to offload up to a 14.7% stake in the company, valued at approximately ₹1,267 crore, according to sources. The transaction will be executed on Monday at a floor price of ₹968 per share, the sources added. The price marks an 8% discount to the stock’s last closing price. The scrip settled at ₹1,058 apiece, down more than 3% in trade on Friday, November 29.

The primary sellers involved in this transaction are True North Fund V LLP (Warburg Pincus), Orange Clove Investments BV and Aether (Mauritius) Ltd.

At the end of the second quarter, True North held a 14.07% stake in Home First Finance, Aether Mauritius held a 9.31% stake, and Orange Clove held a 22.91% stake in the company.

Kotak and Nomura are acting as the brokers for this transaction.

#NewsFlash | #HomeFirstFinance: Promoters likely to sell 14.7% stake of the company via block deals on Monday, block size is at ₹1,267 cr.

Floor price at ₹968/sh, at a discount of 8% to CMP. The sellers are True North Fund V LLP(Warburg Pincus), Orange Clove Investments B.V. &… pic.twitter.com/lA6e4BZdnB

— CNBC-TV18 (@CNBCTV18Live) November 29, 2024

Home First Finance reported standalone net sales of nearly ₹373 crore in the September quarter of the current fiscal (2024-2025), up over 36% from ₹273 crore in the same period in the last fiscal, as per an MC report. The company’s quarterly net profit came in at ₹92.23 crore in Q2FY2025, up 24.11% from ₹74.31 crore in the same month of the previous fiscal.