Home First Finance To Get Rs 700 Crore Investment From Warburg Pincus
New York-based private equity firm Warburg Pincus has decided to invest a whopping Rs 700 crore in affordable housing finance firm Home First Finance. The investment is backed by private equity firms True North and Bessemer Venture Partners. Warburg’s affiliate firm Orange Clove Investments BV has signed a definitive agreement with Home First Finance Company in this regard, said the company in its statement.
The investment would come as a combination of primary fundraising and secondary sales by existing shareholders. Nothing much was made official about how much equity it will pick up for the money being invested or the valuation at which the investment is being made.