Bessemer India Capital Exits Home First Finance, Sells 7.75% Stake For Rs 467 Crore

Updated on: 10 March 2023 2:14 pm

The investment made through purchase of debentures via the AIF’s performing credit fund, will amortise over the next 40 months, paying interest quarterly

Vivriti Asset Management Allocates Rs 500 Million Of Debt To Saas Fintech Zaggle Photo: The investment made through purchase of debentures via the AIF’s performing credit fund, will amortise over the next 40 months, paying interest quarterly

Bessemer India Capital Holdings II on Thursday divested a 7.75 per cent stake in Home First Finance Company India for over Rs 467 crore through an open market transaction.

Fidelity Funds - Asian Smaller Companies Pool and Nomura Trust and Banking Co. Ltd bought a total of 11.93 lakh equity shares of the company.

Bessemer India Capital Holdings II is an affiliate of US-based venture capital company Bessemer Venture Partners.

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According to the bulk deal data available with the National Stock Exchange (NSE), Bessemer India Capital Holdings II sold a total of 68,11,313 shares, amounting to a 7.75 per cent stake in the company.

The shares were disposed at an average price of Rs 686.07 apiece, taking the transaction value to Rs 467.30 crore.

As of the December quarter, Bessemer had owned a 7.75 per cent stake in the company, shareholding data with the bourse showed.

Shares of Home First Finance Company India plunged 7.97 per cent to close at Rs 678.90 per piece on the NSE.

In another transaction, Gokaldas Exports' promoter group entity pared a 9.9 per cent stake in the company for Rs 235 crore through an open market transaction.

Clear Wealth Consultancy Services LLP is the promoter group entity of Gokaldas Exports.

Clear Wealth offloaded 60 lakh shares, amounting to a 9.90 per cent stake in the company, as per the bulk deal data available on the NSE.

The shares were sold at an average price of Rs 390.91 each, taking the aggregate value to Rs 234.54 crore.

With the latest transaction, Clear Wealth's shareholding has dropped to 10.66 per cent from the 20.56 per cent (as of December 2022) stake in the company.

Goldman Sachs Collective Trust - Emerging Markets Equity Ex China Fund, Ashoka India Equity Investment Trust Plc A/C, Aditya Birla Sun Life Pure Value Fund and Aditya Birla Sun Life Small Cap Fund were the entities that picked up the shares of the company.

On Thursday, the scrip of Gokaldas Exports declined 3.53 per cent to settle at Rs 393.20 per share on the NSE.