Home First Finance Block Deal: Kotak Mahindra MF, Morgan Stanley, Others Acquire Stake Worth Rs 1,307 Crore

Kotak Mahindra MF, Fidelity, Morgan Stanley, and Citigroup Global Markets Mauritius are among those entities that collectively bought a 10.64% stake in Home First Finance Company India for Rs 1,307 crore through open market transactions on Monday.

According to the block deal data available on the NSE, Kotak Mahindra Mutual Fund bought 50 lakh shares or 4.84% stake in Home First Finance Company.

In addition, HSBC MF, Motilal Oswal MF, Kotak Mahindra Life Insurance, HDFC Life Insurance, Norway's Government Pension Fund Global, and the Master Trust of Bank of Japan picked up more than 1.09 crore shares of Mumbai-headquartered Home First Finance, as per the data.

The shares were acquired at an average price of Rs 1,190.50 apiece, taking the transaction value to Rs 1,307.17 crore.

Meanwhile, private equity major Warburg Pincus exited the firm by offloading its entire 10.64% stake in Home First Finance Company India.

Warburg Pincus divested its holding in Home First Finance through its affiliate Orange Clove Investments BV.

Shares of Home First Finance Company India rose 6.44% to close at Rs 1,279.70 apiece on the NSE.

In December 2024, Warburg Pincus along with two promoter entities of Home First Finance divested a 19.6% stake in the affordable housing finance company for a combined amount of Rs 1,728 crore.

In November 2023, promoters of Home First Finance -- True North Fund V, Aether Mauritius, and Warburg Pincus -- collectively pared a 9.8% stake in Home First Finance for Rs 753 crore.